On July 16, a monthly financial report for the gaming industry was released. The report combined both online and offline numbers. The June numbers showed a year on year (YOY) 1% growth, which is far less than any other months.
What explains the low numbers?
Just like for any industry, the seasonality affects the gambling one. Naturally, when it’s sunny fewer people want to visit casinos.
Additionally, the month of June also saw a lot of poker player heading to Las Vegas for the WSOP. This year the WSOP attracted over 7,000 players. The high attendance of the main event may have contributed towards producing a meager increase for the industry in NJ. WSOP has not yet released a report on the provenance of the players. So at this stage, we can only speculate how it affected NJ.
Online casinos to save the day
The same report stated that the online industry once again produced strong numbers. But this time primarily because of casino games. For the 4th consecutive month, the online gaming industry took over $20 million in revenues. The online industry is booming and the June numbers show a 23.4% YOY increase. Of this, the online poker product produced $1.7 million. Many agree that the online poker product numbers are disappointing. But over all the strong financial performance of the industry is encouraging. Since its legalization, the industry took over $600 million.
It goes without saying that it’s important for the industry to show growth. In our opinion, it would be interesting to see a report that would break down the revenue per device. It would be interesting to know if strong mobile casino apps can overcome the effect of seasonality.
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