Indeed, despite the recent setbacks in Atlantic City. More precisely, the brick and mortar establishments. The revenue is on a steady climb on the online portion of operations. However, even if the online business is pulling its own weight, and then some. The overall figures tell us that the total revenue was down 21%. Though, as the pedestrians seemingly found a new outlet for its gambling entertainment, the industry brands that focused on a heavy online presence are the real winners. Plus, we are starting to see an old fan favorite, online poker, to grab back its market shares in July. So let us look a bit closer to the individual providers. But also dive a bit deeper into the different product contributions currently happen in the Garden State.
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On the top as usual
If compared with last year, the undisputed heavyweight champion is Golden Nugget. That reported an increase of 111% or $31.5 Million. Yet, it’s not all about the total revenue number. Where multiple online operators took in a farther larger percentage gain than the Golden Nugget. Including in the list of positive increases are operators like Ocean Resort Casino, up 217% ($1.2 m), Resorts Digital 162.5% ($18.0 m), Borgata 140% ($15.3 m). But also the Hard Rock Hotel Casino has shown a 195% ($5.6 m) upwards trend and Tropicana 62% ($6.2 m). Sure, the brick and mortar as a whole took a big hit with numbers from 2019, indicating a revenue in July to be $277.2 Million. While the same period from 2020, as reported, decreased to $147.4 Million. That’s a massive 47% drop. However, it only means that New Jersey is fast-tracked towards a quick and sustainable online casino industry.
Online entertainment is always an option
Worth to keep in mind, the current climate is unprecedented. As such, numbers reported in 2020 are most likely going to be set aside as its own period and measuring stick when the market returns to normal. Still, as this is what a far from what a typical year looks like, the industry has a lot to be happy about in the near future. For instance, online is still steadily going up from last year. Where poker increased by 155%, casinos 121%, and betting 65%. Telling us, online entertainment is the revenue stream to emphasize on for a successful operation in Atlantic City and New Jersey.