Online casino games have only been legal in New Jersey since 2013, but the industry they added has already become a major source of income for the state, and this trend is showing no signs of slowing.
In March, July, and September 2018, online casino game revenues were over $ 25 million. Looking at the sales growth from the previous year, this year’s growth was in double digits on a monthly basis. For this Atlantic City casino comparison, we’re looking at only two New Jersey state-owned casinos that were successful when they opened in Atlantic City: Resorts Casino Hotel and Marina Casino Hotel. Both hotels are located in Atlantic City, as you know, but managed to do well after opening in Atlantic City.
The Atlantic City casino industry declined significantly in 2016 as five major casinos, including the Trump Taj Mahal, Atlantic Club Casino Hotel, and Trump Plaza, all closed their doors and tables in the months leading up to the election. Casino games grew 62.5% annually over the same period in which the industry was developing. These benefits, combined with the increase in online operations, will have a significant impact on the profitability of land-based casinos. While it is possible for these policies to “cannibalize” other companies’ sales, it can actually help a company gain market share.
Steve Norton, former casino owner
Casinos are likely to see customer flight due to the increase in online gambling and will have a serious impact on this “once healthy” industry, argues an Atlantic City gamer and analyst. Since downsizing leads to job losses, bankruptcies and reduced casino revenues and dividends, downsizing inevitably leads to these consequences.
Impressive! It’s official: Atlantic City, which suffered a sharp decline in its gambling fortunes prior to the opening of these two resorts, has seen strong sales growth since the Hard Rock Hotel & Casino and Ocean Resort Casino opened. In the past it was possible to increase the revenue of non-gambling and land-based casinos to all government institutions, but this is no longer the case. Total gaming revenue declined significantly year over year at six of the nine Atlantic City casinos that were still open, but surprisingly, revenue declined year over year in all six of those casinos in September 2018.
Schaffel, another Atlantic City Casino insider, believes that as state revenues continue to decline, New Jersey is likely to expand its already lucrative iGaming market (including casino games and betting) over the next decade, causing further financial problems for the casino entails and forces it to close. If you have the opportunity to play online, you will find yourself playing. “
A study by Global Casino Gaming Statistics found that online casino gaming sites serve a much larger audience than traditional casinos, and so do New Jersey residents. Online casinos and poker rooms have a relatively open and private environment for gaming, which makes them more attractive to players and minorities who may not feel at home in a busy casino. As you can see, when you look at the extensive money saving bonus codes on online platforms, you can save a considerable amount of money by playing in casinos for a fraction of the usual cost.
Limited innovation in this area has helped limit online casino games to only traditional desktop and portable devices. Handheld devices are essential to the long-term growth of the industry. Players can easily and quickly download mobile casinos and custom apps to their smartphones and tablets to make it easier for them to access their favorite games. Online casinos are open 24 hours a day, 365 days a year, so it can be said that online casinos are open 24 hours a day.
With a better vantage point
Schaffel and Norton agreed that “there is no real way to make up for the financial deficit caused by the closure of New Jersey casinos”. Some Atlantic City people agree, but not all. In my opinion, Steve Ruddock’s above statement about cannibalizing online casinos elsewhere is more hyperbolic than the actual statement. Believing online casino games to be too big, he claims that “it had no adverse impact on visitor numbers or overall consumption” by showing that the game lasted five years, during which both visits and consumption increased.
I think this fact confirms the counter theory that Golden Nugget Atlantic City Casino, which has more than $ 227 million in online sales since that date, shows that digital gaming is a really profitable life. Although sales have increased, the on-line activities of the in-house casino have increased awareness of bras among young customers. The projected increase in online gaming coincided with the extraordinary growth of our terrestrial business, said Thomas Winter, CEO and Director of Online Gaming.