NJ Online Gambling Successes and Setbacks Detailed in DGE Report

 

The New Jersey Division of Gaming Enforcement (DGE) has released a report detailing revenue gains from the first six weeks of online gambling.

The report covers the period from the initial launch, November 21st, to December 31st. According to the report, revenue for that time period totalled $8.4 million, slightly lower than the $10 million projected by analysts. Data indicates that Borgata and PartyPoker raked in the majority of revenue, claiming 45% of the market. Caesars came in second with 28% of total revenue gains.  The Trump Taj ($883k), Tropicana ($748.5k), and Trump Plaza ($427.6k) followed next consecutively, and the Golden Nugget fell behind the lot with only $179k in total. The Golden Nugget’s poor performance has been attributed to its delayed launch of a poker brand.

Despite the large figures, the Trump hotels are not considered to have fared well. Like the Golden Nugget, their failure to launch a poker brand has proved to set them back. Three major factors have been identified for the less-than-impressive revenue gains.

Geolocation glitches and payment processing problems

Most Visa transactions are still being rejected and Bank of America and Wells Fargo patrons have also had trouble making deposits.

Poor marketing

Most online operators have not yet launched viral marketing campaigns to attract players. Only recently did PartyPoker form partnerships with two US professional sporting franchises to have their brand advertised at sports games.

Delayed Launch

Finally, the Golden Nugget’s online casino launch was delayed until December 13. However, it is expected to bring in satisfactory revenue from January 2014.

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