JERSEY CITY, N.J., Aug. 24, 2020
JERSEY CITY, N.J., Aug. 24, 2020 /PRNewswire/ -- The online gambling industry in New Jersey continues moving forward with an upwards trends. With record breaking numbers in the first 6 months of 2020, could it be that the industry will surpass the total revenue figures of last year.
Whilst many businesses including land-based casinos across the country were impacted by the current situation, the New Jersey online gambling industry - specifically online casinos - registered the highest figures ever in June when compared to June of last year, this upward trend continued for the month of July as well.
For the month of July, a total gross revenue of $87.49m was registered, from online casinos only. It should be noted that whilst NJ online casinos are registering an increase, NJ Poker sites have registered a decrease in revenue for the past two months.
Below you will find how each of the 7 big NJ casino brands (which house several top NJ casinos under their names) performed in June. Borgata Casino and Hard Rock Casino were the only two who registered lower revenue than June and Ocean Resort Casino had the highest percentage increase when comparing July 2020 revenue to July 2019 revenue.
NJ Online Casinos
Golden Nugget Casino
Hard Rock Casino
Ocean Resort Casino
US Annual Casino Gross Revenue 2020 Predicted to Surpass 2019 GGR
Even though the year 2020 is just over halfway through, the online casino GGR is predicted to be around $1.4bn, almost triple of the gross revenue registered for the whole year of 2019! This is only possible if the online casino industry continues at the same pace. Regardless of the fact that the market is quite matured in New Jersey, online casinos can still surpass the total registered for last year as well.
The recent circumstances including the closure of all land-based casinos across the country had a significant impact on the recent surge registered by online casinos. It will be interesting to see whether online casinos can keep up at the same pace as time goes by and attempts to normalize the situation are put in motion.
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