The latest figures released by New Jersey Division of Gaming Enforcement on Monday state that Atlantic City Casinos have managed to keep the positive balance, even record an increase of 0.3% compared to last year. Though the increase percentage is not exactly a record-breaking figure, the truth is it could have been worse. The land-based casinos of Atlantic City could have marked a drop of 2% had it not been for the online gaming sector. This is a big boost for the gambling industry in New Jersey and also an argument that speaks in favor of online gambling which has been the topic of serious debates lately.
For over a decade the Atlantic City casino industry has been struggling so much that at some point it even got to the point of bankruptcy. The number of 12 land-based casinos has been reduced to seven in the last ten years with Trump Taj Mahal being the last one to close its doors. However, things are looking up for both the mentioned casinos and for the other seven standing land-based casinos. Trump Taj Mahal was bought by Hard Rock International and it is planned to be reopened in 2018. As for the figures the overall February revenue of the seven casinos amounted to $205.3 which represents a 0.3% increase in comparison to February 2016. However, the reality is that if it were only the land-based operation, the casinos would have dropped by 2% in comparison to last year. The only reason Atlantic City casinos have managed to keep the scales on their side is the existence of online casinos. The online casinos have generated nearly $18.7 million which translates to a rise of 27% compared to last year. This figure is slightly lower than last month, but even so it has managed to make a significant difference in the overall revenue statistics.
The main leaders of the online gaming revenue increase were the Golden Nugget and Resorts Digital, both of which recorded the biggest rise in the numbers. Resorts Digital can boast an amazing number of 131% while Golden Nugget’s rise measures 66%. Even so, Golden Nugget is the leader of the month with $5.175 million, which is no surprise, considering the fact that for the last several months The Golden Nugget has been the leading casino operator.
These figures prove that online casinos do not pose a threat to land-based casinos. What is more, they represent a perfect complement to the land-based casino industry and a significant boost in revenue. According to the words of Richard Schwarz, president of Rush Street Interactive, the company that operates one of the Golden Nugget sites, the gathered statistics show that once the players go online, it does not mean that they never come back to the brick-and-mortar casinos. On the contrary, a large percentage of these players come back. Furthermore, the inexperienced players feel more comfortable testing their skills and practicing in the comfort of their home before venturing into the real casino action.
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