The numbers are in from New Jersey’s third full month of offering internet gaming. The state’s gaming sites earned a collective $10.3 million in revenue, which is about a 9% increase from January’s $9.5 million.
It’s definitely positive that New Jersey earned more revenue for the second straight month, especially with February having three less days. But January featured 28% growth from the previous month, nearly triple February’s growth rate. Based on the numbers, Philly.com even suggested that the market could be “starting to plateau.”
However, the moderate revenue increase seen in February may not be as alarming as it appears. December was plagued by the much-discussed geolocation issues, which, at one point, saw as many as 75% of players within the state’s borders rejected from casino and poker sites. This problem played a huge role in December’s disappointing $7.4 million in gaming revenue.
Since that time, the state have continued to work on the issue. A much smaller percentage of players were rejected in January, which was a large reason behind the 28% revenue increase. February’s 9% growth rate, which still seems a bit high, could also be reflective of less geolocation issues last month.
Moving forward, we could see even less growth from March’s numbers. But it’s worth mentioning that the New Jersey Division of Gaming Enforcement recently took measures to improve geolocation technology even more. So once the technology is close to verifying players 100% of the time, the huge jumps in revenue figures will likely stop. However, that doesn’t necessarily mean the market is reaching a plateau, but rather we can expect more moderate, realistic growth in future months.
If you’re interested in seeing a breakdown of February’s online gaming revenue figures, check this out below. When doing so, pay special attention to the 888/Caesars network, which gained some ground on the market-leading Party Borgata.
New Jersey February Internet Gaming Revenue
- Party Borgata: $4,085,444 – a 5% increase from Jan.
- 888/Caesars Interactive: $3,335,470 – a 9% increase from Jan.
- Tropicana/Virgin: $1,345,138 – a 62% increase from Jan.
- Trump Taj Mahal/Ultimate: $587,323 – a 46% decrease from Jan.
- Betfair/Trump Plaza: $493,590 – a 12% decrease from Jan.
- Golden Nugget: $460,112 – a 62% increase from Jan.