New Jersey online gambling fails to post revenue record in February
New Jersey’s experiment with regulated online gambling has been going so well recently that it’s actually a newsworthy event when the state’s operators fail to post record monthly revenue. That’s what happened in February when Garden State operators not only failed to beat their own records for the month, they also failed to post an improvement over the previous February’s earnings.
That doesn’t, however, mean that they weren’t extremely profitable and doesn’t portend any doom for the industry’s future. In fact, not only did online slots and table games earn plenty of money, the state saw positive movement in its languishing online poker business for the first time in a long time.
All together, New Jersey’s license online gambling operators posted revenue of $31.75 million for February 2019. That’s up a very solid 44 percent over February 2018. As is most often the case in the Garden state, online casinos accounted for
alion’s share of the action with revenue of $29.94 million, according to a report on CalvinArye.com. That’s up 48 percent over the previous year.
The real news in the February New Jersey numbers is a slight uptick in online poker. This particular niche of the online gambling market was once expected to be the big earner, but never really took off. In February 2019, however, New Jersey online poker saw revenue of $1.8 million, a boost of 2.1 percent over the previous year. That’s the first time that’s happened in a very long time.
At the top of the online casino heap was the Golden Nugget, which usually comes in first when it comes to online revenue, with $10.7 million, which is down from January.
While February didn’t post any revenue records, it’s a short month and isn’t a harbinger of doom for the hot, hot New Jersey online gambling market.
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