What’s keeping the gambling business alive and the growth on track in the garden state, is, without a doubt, the online sector. In fact, gambling has so far shown a steady increase in the last 6 months. This even as the brick-and-mortar on a year-on-year September comparison indicated a decline. As such, we can only draw one conclusion from reported numbers. The online phenomena, without knowing it came at the exact right time to keep the market growth in New Jersey. And according to the New Jersey Division of Gaming Enforcement (NJDGE) numbers now confirmed for gross gaming revenue is a healthy $323.3 Million. Meaning, if you follow the industry, is a 6.5% increase, not a bad result at all as most businesses struggle somewhat in the current climate. With that positive news, let’s see where the revenue came from.
The general trio revenue stream
If we break it down to its basic components, the separation was $45.1 Million from sports betting. And $87.6 Million from online interactions, plus $190.6 Million from boardwalk casinos. Now, let’s talk about increase strictly by percent. If compared with the same period from 2019, the online revenue completely rocketed by 113%. At the same time, sports betting was up 19%. Still dragging the total down is the brick-and-mortar, with a negative 15.1%. And if we go even further down to the individual contribution for the face-to-face interactions. The red ink reads 9.6% from slot machines, 28.7% from table games. And finally 23.5% in-person sports betting. Although, on the plus side of things, New Jersey as a whole, wagered $748.58 Million on sports. With a massive $678.7 Million came from an online source. Either via a mobile application or from the general online portion.
Good all things considered
Despite the uphill battle, the industry as a collective finds itself in right now. Words of positivity still come from New Jersey’s Casino Control Commission (NJCCC). With statements like. “These results were promising in the midst of continuing travel advisories that decrease visits from out of state”. Though, also pointed out was that. 2020 can’t “reasonably” get the same importance when speaking of revenue and growth. Meaning, so far, the industry is not struggling to keep the lights on. And the gratitude should extend to the online casino part for keeping and as a matter of fact, gaining traction.