New Jersey Big Winner in January

Online casinos rebound after rough opening late last year

A report from the New Jersey Division of Gaming enforcement reported that the gross win of the state’s online casinos rose by 28 percent on the previous month in January. The entire industry pulled in an impressive $9.5 million. American gambling laws were revised in 2011 to allow states to create their own online casino markets, and New Jersey launched its first sites last year.

The most profitable casino was the Borgata, which made $3.9 million, over 40 percent of the state total. The Golden Nugget came in last with just $286,000. Almost 200,000 personal gaming accounts have been registered since the launch.

Success eases investor concerns

January’s success is good news to casino investors, many of whom were concerned by disappointing numbers late last year. The November launch was fraught with technical problems, as well as the refusal of some banks to process gambling transactions.

New Jersey is one of only two states along with Delaware to have legal online casinos in America. Despite the impressive showing of online casinos, the state’s overall gambling industry suffered a 9 percent decline in gross win for the month. This is due primarily to the poor performance of many of Atlantic City’s casinos, including the bankruptcy and closure of the Atlantic Club.