New Jersery Online Gambling Revenues Increased 15% in March

The New Jersey Division of Gaming Enforcement recently reported that online gaming revenues increased 15% in March over the previous month. The DGE said that the increase wasn't large enough to offset losses from other gaming activities, but still encouraging news for the Atlantic City gaming industry.

Analysts acknowledged that their initial revenue projections were overly optimistic. However, the industry has continually grown every month. They still hope that online gambling will save the beleaguered casino industry.

The DGE also reported that the number of online poker players has increased by 18% between February and March. Some players may not being playing immediately, which means that there could be a lag between an increase in new accounts and higher online gaming revenues.

The Atlantic City casinos expect that online gambling will grow further in the months to come. They are advertising their services on their websites, billboards and television. Many citizens still don't understand the differences between the regulated and unregulated online gaming providers. The gaming providers hope to encourage more people to create accounts in the future.

Even with the growth of online gaming, the casino industry is still struggling to stay afloat. The DGE reported that year-over-year overall gaming revenues declined 2% last month. However, part of the decline is likely due to the closure of the Atlantic Club.

While the overall earnings trend was discouraging, revenues grew considerably at some casinos. The Revel Casino Hotel's revenues increased over 50%. The Golden Nugget and Resorts Casino Hotel both reported that gaming revenues increased by 20%. The Tropicana reported higher earnings as well.

Two casinos owned by Trump Entertainment reported earnings contracted nearly 20%. Trump Plaza Hotel and Casino and Trump Taj Mahal are both struggling to boost revenues to avoid bankruptcy.