With 2018 coming to an end, the New Jersey gambling market has a big reason to celebrate. Namely, this year has seen a $27 million increase in profits. Although brick-and-mortar casinos still attract a lot of guests and have their own appeal, gambling websites have contributed significantly to this increase.
An Impressive Step Forward
The figure may not seem that big. However, if you compare the results from November last year, the increase in revenue turns out to be more than 30%. Note that this only stands for online casino providers that deal in casino games. Online poker websites have seen a major loss when compared to last year: the overall revenue from online poker decreased by a whopping 13.7%.
The Biggest Winners and the Biggest Losers
Although everybody profited from this increase, it always seems that lady luck has her favorites, and this time it’s the Golden Nugget Casino. The owners of Golden Nugget reported a $9 million increase in profits month after month, and if this trend continues, Golden Nugget will soon witness almost a 50% increase in annual revenue. On the other side, Resorts Casino only saw a meager 1.3% rise in revenue when compared to figures from 2017.
Other casinos also saw astronomical profits, however none as much as Golden Nugget. Hard Rock Atlantic City and Ocean Resort Casino, although new on the scene of online gambling, have also posted increases of almost 30% since they opened a couple of months ago.
All in all, the NJ online gambling scene is making record profit increases as a whole. The whole industry made a profit increase of 25% in one year, which is quite staggering, especially if you compare them to land-based casinos.