New Jersey Online Gambling Profits are Moving on Up

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New Jersey Online Gambling Profits are Moving on UpLook out folks, New Jersey is going up! On the next floor we have gambling revenue from online poker and online gambling, please watch your step while exiting the elevator!

In July, New Jersey raised its revenue back up to the $10mm mark. In Onlinepokerreport.com, Chris Grove notes that, according to the figures released from the New Jersey Division of Gaming Enforcement, “The state’s regulated poker rooms and casino sites generated total revenue of $10.07mm during July.” That’s definitely up from the $9.5mm made in June.

So what attributed to this rising moneymaker? What brought the increase was a steady increase of revenue from five companies that represent online gambling in New Jersey – Ceasars, Golden Nugget, Tropicana/Virgin, Betfair/Trump Plaza, and Trump Taj/ Ultimate.

Surprisingly, Borgata, the biggest online gambling company in New Jersey, did not contribute to the rise in revenue. Borgata, which facilitates online poker and casino sites in collaboration with Party Poker actually went backwards. According to Online Poker Report, Borgata held strong with a market revenue $3.18mm. “But that number represents a roughly 10% drop from June’s take of $3.46mm. And the majority of the drop came from the casino column.”

According to Online Poker Report there was no change in regards to online poker gambling. Now it is speculated that sales will pick up by approximately September. There is also a strong desire for PokerStars to return and bring their brand of poker play to New Jersey casinos. If one had to speculate any other reason, I would suggest with winter coming and school back in session there will be more free time indoors.

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