We can’t say it enough, the online gaming industry is doing very well indeed in NJ. If you take a few moments to look at its progress. You’ll notice that the industry has matured a lot since 2014. At first, everyone wondered if online gambling would find its foot-whole in NJ. Especially since 2014 gross gaming revenue (GGR) reached $123 million and a meager $149 million in 2015. It’s only in 2016 that the industry showed its true potential. Indeed, back in the days, the combined GGR of Nj casinos reached $197 million. 2017 was a year filled with milestones and the casino industry delivered a staggering $246 million in GGR. Given last years success, some worried that the iGaming industry has plateaued. This is because the YOY growth percentage has slowed down.
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So what can the iGaming industry do better to make sure it still performs well?
Currently, all eyes are on the payment providers. Many operators are hoping that new payment solutions will soon be available in NJ. Especially since the legalization of online casino PA by the end of 2018. The new PA market means that 13 million out of 26 million US residents can gamble legally online. So as you can expect this doubling feature could mean significant investment from payment
gateways. New Jersey online casinos have been pretty slow at releasing a multi-channel marketing plan. Indeed, at the moment it seems that only players who visit land-based casinos are aware of the existence of online ones. But things could soon change as Pennsylvania market opening could create a TV and radio buzz that would extend in NJ.
But let’s not forget about poker!
If there’s one thing that can bring high rollers in online casinos its video poker! As you’re probably aware NJ has reached an agreement with Nevada and Delaware to offer interstate poker. Many think that this agreement could see the poker dwindling figure get a much-needed boost. Especially if NJ poker goes live pre WSOP. Many believe that an additional $200,000 in revenue a month from poker isn’t out of the question. There’s no doubt 2018, is likely to be a year that will draw a line in the sand and we’re keen to see the financial reports! We’re keeping our fingers cross and we’re hoping to write about more financial milestones very soon.