Internet gambling to the rescue again in Atlantic City

Figures for February released by the New Jersey Division of Gaming Enforcement (DGE) Monday show that once again online operations made a significant contribution to land operational performances.

The seven casinos and their online partners won a total of $205.4 million, an increase y-o-y of 0.3 percent in February…but stripping out the online revenues, the casinos would have suffered a decline of almost 2 percent.

Without online input the casinos won $186.6 million.

Internet gaming win was $18.7 million in February compared to $14.7 million in the preceding year, reflecting an increase of 26.9 percent.

In the online sector there were two outstanding performances in percentage growth terms: Resorts Digital (Pokerstars) was up 131 percent year-on-year, whilst Golden Nugget (Betfair) was up 66 percent.

For the first two months of 2017, Atlantic City’s overall casino revenue is at $372.5 million up nearly 4 percent from the same period last year.

For the month of February 2017, total gaming taxes were $16.4 million. Total gaming taxes reflect 8 percent of taxable casino gross revenue and 15 percent of Internet gaming gross revenue. In addition, the casino industry incurred $2.8 million in Investment Alternative Tax Obligations, which reflects 1.25 percent of casino gross revenue and 2.5 percent of Internet gaming gross revenue.

See the full DGE report here: http://www.nj.gov/lps/ge/docs/Financials/PressRel2017/February2017.pdf