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Growth of Internet Gambling Declines in New Jersey

Growth of Internet Gambling Declines in New Jersey

In February, gambling websites in Atlantic City posted an increase of 9% in revenue while online gambling in New Jersey showed a decline in its third full month of operation.

In January this year, the 16 online gambling sites in New Jersey posted a gain of 28% to $9.5 million while these sites won $10.3 million in February.

Growth of Internet Gambling Declines in New Jersey

In its third month of operation, the growth of the internet gambling market in New Jersey has slowed down.

However, when the numbers were released on Wednesday by the state Division of Gaming Enforcement, it is clearly evident that these top numbers are starting to plateau.

Despite this soft data, CEO of 888 Holdings, Brian Mattingly, was very positive regarding the success of online gambling in New Jersey so far. 888 Holdings partners with Caesars Entertainment to offer the New Jersey public online gambling.
Last year November, internet gambling was launched in New Jersey. This state is only one of three states to offer gambling on the internet including Delaware and Nevada.

The race for dominance in this state in internet gambling is a close contest between Caesars Interactive and the Borgata with nearly 250,000 online gaming accounts opened since the introduction of online gambling in New Jersey.

The numbers are different in Atlantic City though with online gambling bringing in $209.4 million from 11 casinos in February which was a 1.4% decline from the same month last year. The biggest monthly gain of 26% to $12.5 million was posted by Golden Nugget Atlantic City.

Revel Casino and Tropicana Casino each posted an increase of 20.7% monthly gains. As a result of the bad weather, the Trump Plaza Hotel and Casino was down nearly 25% to $3.9 million, while the Trump Taj Mahal Casino resort declined by 24% to $15.6 million.

OCA News Editor