iGaming Continues To Grow In NJ Despite Land Based Casinos Being Open
Atlantic City casinos reopened for business in April 2021 and patrons were happy to get back to their favorite land based casinos and play their favorite slot machines and table games. While some expected the reopening of land based casinos to impact iGaming revenue, a report from the New Jersey Division of Gaming Enforcement (NJDGE) shows that iGaming operators have continued to do well even with land based casinos reopening.
One reason why iGaming revenues continue to do well in New Jersey is because all of the 9 land based casinos are located in New Jersey. This means that if residents in the Garden State want to gamble at a brick and mortar casino, they have to make the trip to Atlantic City. Most residents prefer to just go online and play from the comfort of their homes.
The NJDGE released a report which showed that gross gaming revenues (GGR) from online casinos increased by 35 percent when you compare April 2020 to April 2021. iGaming operators brought in a total of $108 million in April 2021 even with land based casinos reopening.
An analyst from Lloyd D. Levenson Institute of Gaming, Hospitality and Tourism at Stockton University said that iGaming revenues in April 2021 did dip a little when compared to March 2021 but also pointed out that the dip was a balancing act as land based casinos revenues increased in April 2021.
Golden Nugget Online Gaming registered $32.6 million in winnings while Resorts Digital brought in $31.6 million.
Over Gambling Revenues Increase In NJ
New Jersey was one of the many states that took a major financial hit during the last 18 months due to COVID-19. Atlantic City took a huge hit as it depends heavily on its casino industry and the closure of all nine casinos hurt the city’s economy. However, New Jersey was able to make up for some of the lost land based casino revenue as it has a thriving online casino and sports betting market.
The reopening of land based casinos in April 2021 has helped boost the economy once again. Land based combined gaming revenue is reported to have quadrupled in April 2021 when compared to year on year. The NJDGE reported that land based casinos generated just $82.5 million in April 2020 and $352.2 million in April 2021. These numbers do not take into consideration revenues generated at the three horse racing tracks.