- New Jersey’s internet gambling revenue surges by 32% in 2016
- Casino revenue sees growth of 7.7% from previous year
A recent report from research group Eilers & Krejcik has provided some good news for the beleaguered metropolis suggesting that online casino sites are actually increasing business in Atlantic City casinos.
The study showed that in New Jersey there had been a sharp increase in online gaming revenues – by as much as 32% in 2016 – but rather than seeing a drop in visits to live sites, an increase was recorded. In January, a notoriously quiet period for the gaming industry, casinos reported a 7.7% increase in revenue from the year before.
“Online gambling is becoming a highly effective tool for Atlantic City’s casinos. Increased integration between the online and live casino appears to be driving additional play and visitation at land-based properties.”
Adam Krejcik, author of the recent Eilers & Krejcik report.
The document challenges the conventional wisdom/fears of brick & mortar operators, such as Sheldon Adelson at Sands, who have historically seen online casino gaming as more of a threat than an opportunity.
The findings are particularly good news for Atlantic City, which has seen its star steadily fall over the years and, as a result, has faced ever-growing threats from outer-state casinos. It is now looking like online gaming may be going some way towards saving the city’s seven remaining casinos.
Rummy Pandit, an executive at Stockton University commented, “Internet gaming is allowing people to be familiar with gaming in the comfort of their own home. Now once a player becomes familiar online with your internet gaming…
Mr. Pandit went on to state that it is no surprise that many online gamblers went live as they were looking for an ‘experience.’
The report also projected that online gambling revenues would increase by a further 17% in 2017.
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