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Atlantic City Casinos Target $3 Billion in Gaming Revenue

Atlantic City gaming Revenue

Atlantic City has seen its share of ups and downs over the years. The coastal town in South Jersey banked its future fortunes on real money casino gambling in the 1980’s. Elaborate casino resorts filled the historic Boardwalk area in the coming years. Ebbs and flows in the tides and economy saw many of those initial casino properties fail. Bankruptcies shuttered some properties in hopes of brighter days.

In recent years, a new wave of investment flooded the town with new casinos and renovations. According to www.pressofatlanticcity.com, the area’s nine casino properties are now poised to eclipse $3 million in 2019 gaming revenue. This would be a significant revenue benchmark for the Atlantic City casino industry.

How Are The Atlantic City Casinos On Target For $3 Billion in Gaming Revenue?

Along with two new casino properties on the Boardwalk, a huge driving force is legal sports betting. Gaming revenue has also been expanded through online casino sites. These sites work in conjunction with the nine land-based operations.

The AC casino industry did generate more than $3 billion in revenue in 2012. At the time, there were 12 casinos open for business. The introduction of legal sports betting and online gambling has driven revenue back to $2.86 billion in 2018.

James Plousis is the chairman of New Jersey’s Casino Control Commission. He attributes this year’s continued success to teamwork within the industry. All nine properties continue to steer funds towards capital improvements. There is also a much stronger emphasis on customer service. This keeps players gambling in Atlantic City while also attracting new visitors to this gaming beach town.

Mr. Plousis was quoted as saying:

“All the casinos have upped their game in regards to entertainment and amenities. I think all of these things are paying off. We’re trending in the right direction.”

Revenue figures have increased for 16 consecutive months. This dates back to the duel openings of the Hard Rock Hotel & Casino Atlantic City and Ocean Casino Resort. Both properties opened for business in June of 2018.

Also quoted in this post is Rummy Pandit. This is the Director of the Lloyd D. Levenson Institute of Gaming, Hospitality and Tourism at Stockton University. It was noted that the $3 billion milestones was “an achievement and a feat we need to celebrate.”

The quote also went on to add:

“We’ve been positioned to surpass $3 billion in revenue for the last few months. Despite growing competition and the fact that other areas might have sports betting or online gambling, Atlantic City is becoming a destination resort.”

The state Division of Gaming Enforcement released a total gaming revenue figure of $2.46 billion through September. The revenue is derived from:

  1. Slot Machines
  2. Table Games
  3. Online Gaming
  4. Sports Betting

These four categories are up 15.5% compared to the same time frame last year. Online gaming was first legalized in 2013. It is just now starting to build momentum with $339 million in revenue in the first nine months. This represents a 57% increase over the first nine months of 2018. Sports betting revenue has reached $77 million through September, 2019.

• Source: Atlantic City casinos on pace for $3 billion in gaming revenue From Pressofatlanticcity.com On October 23, 2019.

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2019 Profit Dips for Atlantic City Casinos

Atlantic City Casinos

According to the New Jersey Division of Gaming Enforcement, gross profit figures for Atlantic City casinos continues to slide. In a graph posted on www.pressofatlanticcity.com, total gross profit was down for the first six months of the year.

First quarter profit figures in 2018 topped $126.6 million, but they came in at $87 million this year. Turning to the second quarter of 2018, gross profit topped out at $171.4 million. Recent figures for the past three months show a continued decline to $159.3 million.

Big Revenue Drop At All Atlantic City Casinos?

This is especially concerning in light of the summer tourist season at this coastal resort town. The actual percentage drop in second-quarter casino gross operating profit was 6.8 against last year. The figures were recently released by the state’s Division of Gaming Enforcement.

Atlantic City has nine casino resorts, which is two more than the same time frame last year. Hard Rock Hotel & Casino and Ocean Casino Resort opened their doors for business in June of 2018. The $159.2 million in gross profit generated by the nine properties was down $11.5 million in the April through June time frame.

This information contrasts monthly gaming revenue, which reported increases through June of this year. The town’s casino resorts have posted 13 months of double-digit revenue growth. However, this has not translated all that well to gross operating profit figures. Actual gaming revenue in July only rose 7.8 percent to add to the industries slumping overall trends.

Borgata Hotel & Casino was the only Atlantic City casino that increased profit in the second quarter. It recorded an increase of 4.7 percent against the same quarter last year. This is still the highest-grossing casino in both revenue and profit. These financial results point to an overall casino industry that has not grown even with two more properties.

Gross operating profit is a widely accepted measure of how Atlantic City casinos are performing. Revenue increases alone do not paint a true picture of the overall financial health of the Atlantic City casino industry.

James Plousis is the chairman of the Casino Control Commission. He did note that net revenue was up 18.2 percent in the second quarter. This is the difference between total gaming revenue minus promotional allowances. It also takes rooms, food and beverage and other nongaming revenues out of the total. He stated that:

“Results from individual casinos show the market was still adjusting to the new level of competition through the second quarter. Next quarter will provide an opportunity to compare year-over-year results in Atlantic City’s nine-casino market.”

Reported operating profits for the first six months of 2019 are $245 million. Ultimately, this represents a 16.8 drop from the $294.5 million figure for the first six months of 2018.

The report adds that Hard Rock spent more than $500 million renovating the failed Trump Taj Mahal Casino Resort. The new casino’s gross operating profits for the first six months this year were $5.1 million. The new Ocean Resort lost nearly $23 million in its first seven months. Luxor Capital Group assumed ownership of the $2.4 billion resort in February of 2019.

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Golden Nugget’s Online Take Could Exceed Land-Based Revenue

Golden Nugget Atlantic City

Golden Nugget’s Online Take Could Exceed Land-Based Revenue! That would be a first in U.S. history! When internet gaming was approved for New Jersey, it was hailed as a savior for some, while for others there was considerable skepticism. Now, it’s been successful enough for one entity that it is set to make gaming history in the next few months.

Golden Nugget’s Atlantic City Online Casinos Revenue Soars

The Golden Nugget in Atlantic City may soon become the first land-based casino enterprise in America where the land-based revenues are actually exceeded by those revenues generated over the internet.

They are not there yet, but at this rate, it could be October or November of this year when their internet action passes the physical casino take.

This would have been almost unthinkable a year ago when the brick and mortar operation was bringing in 2.3 times that of the online business.

But to say the gap has narrowed would be a major understatement.

The Golden Nugget’s exploits in this area have been more than notable. In March they set a new internet gaming record for New Jersey as they produced $14.23 million. Of course, some of this was aided by “March Madness” promotions.

In April, the difference between offline and online was only $1.6 million.

In May they generated a little less than $14.1 million, which was about $3 million below the physical casino total. That was a 64% increase over May 2018.

How This New Jersey Gambling Site Reaches Internet Sucess

So how has the Golden Nugget realized so much in the way of internet success? Thomas Winter, the general manager of online gaming for the company, suggests that they have focused on New Jersey residents primarily over the last five years or so, while competitors have concentrated more on patrons located in bordering states. As you may know, internet gaming, as it is regulated by the state of New Jersey, is open only to those customers IN the Garden State and not outside of it.

There is also an interesting dynamic involving the demographics for internet gaming. Winter is saying that his company’s land-based business is not being “cannibalized” by the online business, mostly because the online players are skewing much younger and tech-savvy, coming to the action through their computers and mobile devices.

In addition, those who are now engaging in sports betting through mobile or online means (New Jersey recently instituted legalized sports betting, after getting a federal law against it – the Professional and Amateur Sports Protection Act – thrown out) also get involved in playing online casino games. And sports has allowed for tremendous growth in and of itself.

Land Based Revenues Were 2.6 Million Less

Despite what Winter says, there would seem to be some residual effect from that, as the land-based revenues were $2.6 million less this May than they were in May 2018.

At any rate, the organization is ecstatic, because, as they say, the technology isn’t going backward. And some of the success could also be attributed to getting a “running start,” as the Golden Nugget got very comfortable with operating online perhaps a little quicker than its Atlantic City rivals. They also concentrated more on creating an exciting user experience.

They have continued to do that. They were the first to offer a live dealer casino, which, ironically, replicates the brick-and-mortar casino atmosphere online, as players come in through computers or mobile devices and challenge who play against them on behalf of the house in real time, with the activity coming through over a high-definition video feed.

For the month of May the Golden Nugget is in second place as far as overall gaming win among the Atlantic City casinos (at over $31.2 million). And as far as the “online vs. land-based” comparison is concerned, Resorts Atlantic City is the only other operation that comes close to it. All the others are lagging well behind.

Revenues from internet gaming are expected to soar well above $400 million for Atlantic City this year, going as high as $450 million.

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NetEnt and DraftKings Join Forces in New Jersey Online Casino Industry

netent draftkings casino games online gambling

Outside of Nevada, the state of New Jersey would have to be considered the most progressive markets for casino gambling. The Garden State was instrumental in bringing legal sports betting to the state level last year. It won a monumental lawsuit against the federal government and a few of the biggest sports leagues in the country. The case went all the way to the Supreme Court which eventually ruled in favor of state’s rights in the matter.

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See How NetEnt and DraftKings Join Forces in New Jersey Online Casino Industry

From that point moving further, New Jersey has aggressively pursued the expansion of online gambling through a regulated market. Furthermore, this follows the opening of several land-based sportsbooks in Atlantic City casino resorts as well as the state’s racetracks for horse betting. The online market for all forms of real money gambling is thought of as the next frontier.

As two of the bigger players in the gaming industry, NetEnt and DraftKings are ready to make their mark in the Garden State. As reported on the company website, www.netentc.om late last month, NetEnt signed a “landmark” deal with DraftKings.

DraftKings Will Have Access To Net Entertainment’s Porfolio Of Games

The main crux of the deal allows DraftKings to offer NetEnt’s portfolio of slots and other casino games in New Jersey. Over the coming weeks, NetEnt’s casino games will be launched and available to DraftKings players.

Erik Nyman is the Managing Director for NetEnt Americas LLC. He was quoted in the release as follows:

“We are very excited to have landed a deal with DraftKings. As the world leader in fantasy sports, with a large player base they will add a new dimension to the market. And we are confident that their players will enjoy our popular games.

Limited Presence In The United States Of America

While NetEnt’s presence in the US is limited, it is growing at a rapid pace. This gaming software developer is a truly global force with recent expansions into numerous regulated markets around the world. It is a logical step to start building its presence in the US market through regulated states.

While real money online casino gambling sites are already open to US players, individual states are looking to get a piece of the action. DraftKings initially partnered with Resorts Casino in Atlantic City to open a land-based sportsbook. Furthermore, this has led to an online application for casino games and sports betting. The company is also licensed by the UK Gambling Commission and the Malta Gaming Authority for expansion abroad.

NetEnt is considered to be one of the pioneers of online gambling. In business for over 20 years, it has become a leading provider of premium gaming solutions to an ever-growing network of casino operators. The company is also licensed and regulated by the UK Gambling Commission.

At the heart of its business model for online gambling solutions is NetEnt’s award-winning game portfolio. A few of the most popular video slot titles include:

  1. Jumanji
  2. Gonzo’s Quest- The Search for El Dorado
  3. Starburst
  4. Mega Fortune
  5. Planet of the Apes

Ultimately, this is just a short list of a game portfolio that sets NetEnt apart from the competition.

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New Partnerships Emerge In The United States Of America Regulated Legal IGaming Industry?

united states of america regulated gambling industry

More and more we see new partnerships emerge in the legally regulated IGaming industry. Ultimately, this holds true to real money gambling sites in the United States of America. More specifically, we are seeing a lot more partnerships in The US IGaming markets, New Jersey and Pennsylvania.

According to an official press release by Lyceum Media, Game Secure and Sightline Payments decide to work together. If you are not familiar with GameSecure, they are a technology based gaming solutions company. Moreover, the partnerships bridge the gaps in between payment services and digital self-exclusive technology. As the desired result, their goal is to ensure that people gambling their money over the Internet get the best security.

Sightline payments has a headquarters in the city of Las Vegas Nevada. Additionally, Bencon Technology’s headquarters is in Vancouver Canada . From Vancouver to Las Vegas, these companies plan to ensure that the real money customers that are at risk get their access denied for payments and content in real-time.

Security In The United States Of America’s Regulated Gambling Industry

In the first quarter of 2019, The regulated United States gambling market had tons of violations that excludes their honest real money from getting content. Moreover, these violations cost a lot of money and firms continue to be out of compliance. The unfortunate thing is that the damage to those patrons is already done.

However, GameSecure has a solution that includes its real-time database that ensures safety for their customers. If they find a gambling operator that is out of compliance, GameSecure’s real-time database solutions ensure these operators are denied access. With a strong partnership with The Sightline’s Play+ platform, this allows the two companies to install another layer of security for the real money casino players.

Security Of Real Money Players Payements Plus More

In a recent press release on Lyceum Media, The Co-Founder of Bencon Technologies Inc, Cameron Conn make a statement. He says, “The Sightline team has been committed to responsible gaming for more than 20 years. Furthermore, it excites them to announce this important partnership,”

At Sightline, they don’t believe there is one singular solution that addresses all of the concerns that players have as far as security. Ultimately, this is why they partnered with GameSecure, to enable better and more secure content and payment services across The United States. Additionally, he says that together, they can discover better solutions that will continue to give the highest level of security to their real money casino customer in the responsible gaming programs.”

When you think about it, Sightline is in a very unique position In The United States Of America. First of all, their Play+ ecosystem covers almost one hundred percent of digital platforms. Also, Sightline’s Play+ ecosystem covers around ninety percent of the real money US casino gambling management solutions. Kirk Sanford is the CEO and Founder of Sightline Payments. He says, with their SPAN Network, they can work together to help ensure the security of The United States residents that gamble online at regulated sites/apps.

Keith Whyte is the Executive Director of the US National Council on Problem Gaming. He goes on record to in the press release. He says “Congratulations to Bencon and Sightline. Ultimately, this-this step is to help further integrate responsible gaming into payment methods for the regulated gambling industry. Moreover, Streamlining player protection is a very important goal for the National Council on Problem Gambling. More specifically, it pleases them to support this type of innovative effort.”

Sandord goes back on record in the press release. He says that people have been using Self-exclusion programs for many years already. For example, on-premise ATM providers. Having said that, until now nothing exists for the Internet that is going where the regulated gambling industry is going.”

Source: Lyceum Media

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A New President Comes To Atlantic City’s Hard Rock Casino

Atlantic City's Hard Rock Casino | New Jersey Gambling | New President

In the latest US and New Jersey casino news, it appears that a new President Is Coming To The Atlantic City Hard Rock Casino In The Garden State. Online gambling in New Jersey has skyrocketed profits for local Atlantic City casinos. Will this new change affect the hotel resorts profit? Well, it appears that the legalization of online sports betting has made online casinos in New Jersey even more profitable. Also, the European online gambling operator Bet365 appears to have made some strong moves to enter the United States Internet gambling market. The old Hard Rock casino president in Atlantic City was Matt Harkness, who will replace him?

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Who Is The New President At Atlantic City’s Hard Rock Casino ?

Indeed, the question going around the real money gambling communities has been who is going to replace Matt Harkness to be the next President of Hard Rock International. In a recent article , it appears that Hard Rock International intends to replace Matt Harkness on November 1, 2018 with Joe Lupo.

Furthermore, there was nothing said about the reason for the change. However, we can only speculate that it has to do with the new changes in the Internet gambling market, more specifically, the legal NY sports betting business.

Who Is Joe Lupo And How Can He Help Atlantic City’s Hard Rock Casino?

Well, Joe Lupo has a strong gambling background and resume. Above all, he comes from The Borgata Hotel Casino & Spa, where his official title is “Senior Vice President of Operations of Marina District Development Company LLC “. In January 2017, it appears that Mr. Joe Lupo changed his casino management position from Senior Vice President of Operations of Marina District Development Company LLC (Borgata Hotel Casino & Spa), to President of Seminole Hard Rock Hotel & Casino (Tampa at Seminole Hard Rock International, LLC).

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An Casino Gambling Guru Steps Up To The Plate

For over three decades, Mr. Joe Lupo has worked in the real money casino management, entertainment and betting business and software gaming industry. More specifically, Joe Lupo used to work for the Boyd Gaming. Indeed, Hard Rock International purchases the resort from The US President Donald Trump (Trump Taj Majal). Since then, Hard Rock spends approximately three hundred million dollars to renovate the resort. That said, it was reported in the “Atlantic City Press”, in the first few months of operation, the Hard Rock was the highest grossing casino in the state of New Jersey. Furthermore, this was after they announced their agreement with Bet365 after New Jersey legalizes online sports betting.

The Hard Rock casino in Atlantic City is one of the leading online casinos in New Jersey. Also, they may allow mobile sports betting out of casino resort for residents of the State of New Jersey. We are unclear if the new president will have a large effect on how the resort does. However, the rumors in the real money gambling communities are that the Hard Rock is going to be one of the biggest players in the entire United States of America gambling market.

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Which Online Casino In New Jersey Accepts Paypal?

Which Online Casino In New Jersey Accepts Paypal? #1 NJ Casinos

Are You Ready To Find Out Which Online Casino In New Jersey Accepts Paypal? It has been quite some time since real money gamblers in the United States have been able to use Paypal. However, since the Garden State opened up it’s doors to Internet gambling, some online casinos have started to accept Paypal again. Yes, depending on where you live in the United States of America, real money online gambling in New Jersey may be legal and you may be allowed to easily use your PayPal account.

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Which Online Casino In New Jersey Accepts Paypal?

First of all, PlaySugarHouse.com is a Philly based online casino that has teamed up with the Golden Nugget in New Jersey. Above all, PlaySugarHouse allows you to use PayPal and many other banking options. For example, you can use your credit cards like Visa and Mastercard. Also, you can go to your local 711 and make deposit and withdrawals there. Furthermore, the addition of PayPal to PlaySugarHouse brings their casino banking options up to twelve now. Obviously, you can still do a wire transfer and bank the same way you did previously.

Most importantly, PlaySugarHouse offers a wide variety of online casino games from a large number of software providers. Furthermore, Net Entertainment, International Gaming Technology, Aristocrat and more software providers power this live dealer casino. Also, you can enjoy the hottest online slot machines and real money poker tournaments right from your mobile device.

Win $150K in The King Cash Bounty Hunt At New Jersey Casinos Online

Recently, PlaySugarHouse made an announcement on their official website that they are holding the $150k King Cash Bounty Hunt this month. Above all, players from all over New Jersey can take their chance in capturing the infamous gangster, King Cash. Furthermore, this bonus promotion continues throughout September until September 30, 2018.

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Is PlaySugarHouse.com The Only Legal New Jersey Online Casino Accepting Paypal?

Many People Are Wondering If Is PlaySugarHouse.com Is The Only Legal New Jersey Online Casino Accepting Paypal. However, we believe that the Golden Nugget NJ gambling site offers residents of the Garden State the option to make deposits and withdrawals using PayPal. Also, we believe that The Borgata has their real money casino accepting PayPal. However, it is best to check with their official website.

So, which online casinos accept PayPal? Spin Palace, 32Red and Ruby Fortune accept Pay Pal. However, if you are looking for gambling sites in New Jersey, most of them allow their customers to make deposits and withdraw their winnings using Paypal. More specifically, most of these apps have a ten dollar minimum deposit but some of them offer instant cashouts.

· Tropicana Online.
· Caesars Casino Online.
· 888 US.
· Borgata Online.
· Pala Online Casino.
· Virgin Online Casino.
· Golden Nugget.
· Betfair NJ.

Can you use PayPal at a casino?

Yes, at some online casinos you can use Paypal. However, the only ones that take this digital wallet are the licensed and regulated sites in the state of New Jersey. Remember, you can always make casino deposits using Paypal as long as you link your account to a credit or debit card. The benefits are you can use your debit, credit card or bank account without having to give over your private information when you make a payment online.

If you live in the United States of America or Canada but don’t live in the state of New Jersey, you may have a problem. After all, Paypal stopped processing real money gambling transactions for US and Canadian gamblers. However, if that is the case, you will easily find other banking options to find your needs, fund your casino account and start your winning streak.If you do live outside of the United States of America or Canada, some sites you may want to consider are Paddy Power, 888, William Hill, Betfair, Eurogrand and Ladbrokes.In some cases, more online casinos are accepting Pennsylvania and Connecticut players. We are not sure if Tropicana Online, Caesars Casino Online, 888 US, Borgata Online, Pala Online Casino, Virgin Online Casino, Golden Nugget, and Betfair NJ are accepting Pennsylvania and Connecticut players.

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Work and Play do Mix for New Jersey Online Slots Winner

Work and Play do Mix for New Jersey Online Slots Winner | Casino News

The best thing about playing real money online slot machines is that it can be done from any computer or handheld device with an internet connection. In a recent post on www.Northjersey.com by David Zimmer, a New Jersey women just hit a $288,000 jackpot playing slots online during a conference call for work.

The winner was not identified in the report, but she does reside in the South Jersey town of Mantua. She hit the jackpot with a $2 bet on the Divine Fortune slot machine at SugarHouse Online Casino. The actual payout was $287,945 and this is the largest payout offered through the New Jersey online casino network. This was also the largest jackpot to date in the Garden State since the Philadelphia-based SugarHouse Online Casino entered the New Jersey online slot machines market in 2016.

How Does Work and Play Mix For This New Jersey Online Slots Winner?

Richard Schwartz is the president of Rush Street Interactive, which is the operating company behind SugarHouse. He was quoted in this report as stating, “Hitting this record-breaking jackpot is great for us and for the entire online gaming industry, as it proves people can win life-changing amounts online at any time and anyplace.”

SugarHouse offers an online chat room on its casino website. That is where the winner posted that she “was actually on a work conference call and almost screamed out loud” after her big win. Rush Street Interactive also released a press release surrounding this historic online jackpot win and added that the casino patron has been playing online slot machines since January of this year.

The five-reel Divine Fortune game’s Mega Jackpot has been hit by six different players since the online game was first released in September of 2016. It was also mentioned in this report that in March of this year a 33-year old Woodbridge, NJ. the player hit a jackpot worth $193,737 on this machine. This progressive slot machine from NetEnt revolves around an ancient Greece theme that takes players on a trip through this era in time.

How Much Money Did The New Jersey Online Slots Player Win?

The winner of that jackpot was identified as Anibal Lopes, who is a superintendent for a New Jersey construction company. That progressive Mega Jackpot had been building since September of 2017 when it was last won. This information was added to the Northjersey.com report through a previous press release by Rush Street Interactive.

In a related online gambling story on this website, DraftKings is open for business in New Jersey when it comes to online sports betting with a new mobile app. The first land-based sportsbook in New Jersey opened for business in early June at Monmouth Park. DraftKings becomes the first online sportsbook open for business in the state with its mobile sports betting site.

DraftKings first made a name for itself as the leader in daily fantasy sports. Through a partnership with Resorts International, it has made its first venture into online sports betting with the launch of this mobile platform. The app will allow sports gamblers in the state to place wagers on a variety of sporting events.

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Ocean Resort Casinos Goes Online for Casino Gambling

Ocean Resort Casinos Goes Online for Casino Gambling | News

The Atlantic City casino industry is booming this summer with two brand new real money gambling casinos open for business. This coastal New Jersey gambling town has endured some hard times in recent years, but that all changed with multi-million dollar renovations at two high-profile shuttered properties. The Hard Rock Casino and Resort is the rebirth of the failed Trump Taj Mahal and the Ocean Resort Casino has given new life to the Revel, which first opened in 2012 before closing two years later.

Another big development in the New Jersey real money gambling scene is the growth and expansion of the internet betting market through online casino betting platforms. Most of the Atlantic City land-based casinos have already expanded into this market. According to a recent post on WHYY.org by Wayne Parry of the Associated Press, the Ocean Resort has joined the party after getting cleared to begin internet gambling operations this past Sunday.

When Did Ocean Resort Casinos Go Online for Casino Gambling?

New Jersey’s Division of Gaming Enforcement gave Ocean Resort the green light following a test and evaluation of its systems and online gaming platform. The casino’s official internet betting website is www.oceanonlinecasino.com. It is the 27th legal online gambling site in New Jersey’s internet betting market.

Each of Atlantic City’s newest land-based casinos opened their doors to the betting public on June 28, but the Hard Rock beat its AC Boardwalk neighbors to the online-betting punch by two weeks.

According to this report, GAN joined forces with Ocean Resort to make its online gambling site a reality. The British gambling technology company was tasked with putting the online casino gambling platform in place. Dermot Smurfit is GAN’s CEO and he has estimated that the online gaming portion of Ocean Resort’s operation should boost total revenue anywhere from 10 to 15 percent. He also said that online gambling should help the casino attract a younger customer base.

What Type Or Online Gambling Does The Ocean Resort Casino Offer?

In a direct quote in this post, he went onto say, “Internet casino players are known to be largely a new customer demographic, when compared against typical casino patrons who frequent Atlantic City, skewing younger and more gender neutral versus the typical 50-years-plus gambling enthusiast found inside a typical casino.”

With the addition of Ocean Resort to New Jersey’s internet betting market, there are now seven Atlantic City casinos with a license to conduct online gambling within the state’s borders. The other six properties start with Borgata as the biggest and most successful casino in town. The list continues with Golden Nugget, Resorts, Tropicana, Caesars Interactive which includes Caesars and Harrah’s and the Hard Rock.

Internet gambling in the Garden State was first made legal towards the end of 2013 and overall revenues have grown steadily over the past five years. Many times, the online revenue generated can mean the difference between a month in the black verse a decline in revenue from the same time frame the previous year.

The WYHH report adds that the internet betting market generated $245 million in revenue for Atlantic City casino’s in 2017, which represents 10 percent of the total market.

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Legal Sports Betting in New Jersey Launches this Thursday

Legal Sports Betting in New Jersey Launches this Thursday | Gambling News

New Jersey wasted little time in becoming the second state in the United States after Nevada to offer legalized sports betting within its borders. This followed an extended court battle against the some of the major sports leagues and NCAA college sports. The Garden State has changed the entire scope of sports betting in the US when the Supreme Court ruled in its favor against the current federal laws on the books banning sports betting outside of Nevada in early May.

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Governor Phil Murphy picked up the fight that former governor Chris Christie started. On Monday, he signed into law the legal right for New Jersey casinos and racetracks to offer sports betting as part of their real money gambling options.

Will Online Sports Betting In New Jersey Be Legal?

In a recent post on NJ.com, the particulars of how you can bet on sports in New Jersey were explained ahead of this Thursday’s planned start at Monmouth Park racetrack in Oceanport. There are still a few minor hurdles to clear with the New Jersey Racing Commission before the all the tracks receive temporary waivers to start accepting sports bets, but this appears to be a formality that should not disrupt Monmouth’s plans to open its sportsbook at 10:30 a.m. on Thursday morning.

While Monmouth is the frontrunner in the state for sports betting, Meadowlands Racetrack in East Rutherford has plans to have its sportsbook up and running by football season. Freehold racetrack will also offer sports betting, but its actual start-up date has yet to be announced. Interestingly enough, two sites of former racetracks in Cherry Hill and Atlantic City have been given permission to offer sports betting even though those facilities have been replaced with residential and commercial development.

The New Jersey casinos are also busy making plans to join Monmouth with sportsbooks of their own. All eight Atlantic City locations are working as fast as they can to get them opened with borgata casino leading the charge. This is the top casino in Atlantic City when it comes to real money gambling revenue and, while plans are in the works, it has yet to announce its start-up date. The Golden Nugget is shooting for the start of the football season, but none of other six casinos in this coastal resort town have released a specific timeline.

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As far as online sports betting, the new law does make provisions for the casinos and racetracks to offer this option. There is a 30-day waiting period since, in the spirit of the law, the state would like to direct its initial sports betting traffic to the brick-and-mortar locations. The new state law for sports betting does not extend to any of New Jersey’s off-track betting sites. Any bookmaking activities outside the realm of a casino or racetrack and eventually their online betting sites is still prohibited.

Betting odds for all games involving professional teams will be on the betting board at New Jersey sportsbooks. However, when it comes to betting on college sports, you will not be able to bet on games involving New Jersey schools and any college games being played in the state.

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