Atlantic City’s struggles to bring back the luster and jubilant riches to its once blustering gaming industry is starting to see a glimmer at the end of a very dark tunnel. The Division of Gaming Enforcement released the March 2014 revenue report and while the numbers are no where near what was expected, a 15 percent increase over February’s revenue seems to be enough to continue hope.
Borgata and Party Poker produced nearly $4.5 million in online gaming revenue, putting them in the lead in the New Jersey online gaming market with a 37% share. The dynamic duo have been the biggest earners, leading the New Jersey market monthly since online gaming began in November 2013.
Currently, there are well over 290,000 players registered to gamble online in the state, which is an 18 percent increase over February and last month the casinos earned $11.9 million, a 15 percent increase over February.
The remaining casino’s reported staggering differences in percentages. The Tropicana Casino and Resort reported and increase of more than 10%, Golden Nugget Atlantic City and Resorts Casino Hotel each had increases of just over 20 percent, while Revel Casino Hotel jumped 50 percent to $14.7 million with the help of online gambling in the state.
The other four remaining casino where down by more than 10 percent from last year as Trump Plaza Hotel and Casino, reported a decrease of 31 percent; Bally’s Atlantic City was down 18 percent, Trump Taj Mahal down 19 percent, and Showboat Casino Hotel, down 17 percent.
While most of Atlantic City Casino’s partnered with major online gambling companies to aggressively promote the new platform of internet gambling within the state it seems that the clear frontrunners are the pairing of Boyd Gaming’s Borgata and Bwin.Party Digital Entertainment.
“Borgata has been New Jersey’s land-based gaming leader for more than a decade, and is cementing its position as the state’s online gaming leader as well. We continue to see solid growth in online casino gaming, and are working to further strengthen our poker business. Later this month, Borgata will hold the $600,000 New Jersey Championship of Online Poker, the largest online poker tournament in the state to date. Borgata online players can also qualify for a spot in the $5 million WPT World Championship, scheduled to be held at Borgata April 21 to 26.” – Keith Smith, President and Chief Executive Officer of Boyd Gaming
Neteller recently made its way to New Jersey with the partnering of Optimal Payments and Caesars Entertainment. This new partnership is certain to help battle the crippling payment processing limitations regulating Internet gambling in the United States has been met with.
Smith also stated that the expansion of payment processing options is “one of our highest priorities, and we are making good progress in this regard.” Borgata added Neteller recently as a new payment option for our customers, a move they are hoping will continue to push them ahead of the competition.
Smith concluded, “With the successful performance of our market-leading product in New Jersey, Boyd Gaming is well-positioned for similar success elsewhere in the country, as additional states move forward with online gaming.“
And in closing this week’s related commentary from non other than J. Todd: