The January 2016 Gaming Revenue Results were released by the New Jersey Division of Gaming Enforcement (NJDGE) at 2:00 PM Friday, February 12, 2016. The results represent a reversal in fortunes after slightly stabilizing revenue in 2015.
In light of this downturn, Atlantic City is facing its biggest dilemma. The Borgata, the Golden Goose, is refusing to make a $7.2 million tax payment. The Casino/Hotel is owed more than $170 million in total tax appeals. The city says it can’t pay that much. Stay tuned for more.
Total Gaming Win from the Casino Hotels was $190.1 million in January 2016 compared to $197.6 million January 2015 reflecting a 3.8% Decrease.
For the month, Casino Win was $175.5 million and Internet Gaming Win was $14.6 million. Internet Gaming in January 2015 was $11.6 million.
2016 January Poker was 14.7% of Total Internet Revenue versus 19.8% in 2015.
2016 January Casino was 85.3% of Total Internet Revenue versus 80.2% in 2015.
ONLINE GAMING RESULTS
The NJDGE official report for January Online Poker revenues show January vs. December, $2.15 million to $1.98 million, UP by 7.9%, and Casino Games, $12.47 million versus $12.06 million, UP by 3.7%. Total New Jersey Online Revenue was $14.63 million UP 4.0%.
The Borgata and Party Poker including Pala Entertainment combination continued as the leading revenue producing I-Gaming site(s) in New Jersey with a 31.2% share (First in poker and casino games). Caesar’s Interactive (CIE) held second place with 22.0% (Second in poker, fourth in casino games).
The Tropicana, with only casino games was in overall third place for the month with a 19.7% revenue share, number 2 in casino games. Golden Nugget/BetFair secured a revenue share of 17.1%, a solid third in casino games. Resorts contributed 9.8% as we still continue to wait for any sign of a PokerStars/Full Tilt launch.
The Online Poker Numbers showed Party and Borgata extended its edge over Caesar’s/888 for the month 55.7% to 44.3%. The Winter Borgata Poker Open surely contributed.
The Month to Month comparison of Internet Gaming Figures – Online Poker January 2016 produced a slightly receding $2.15 million versus January 2015’s $2.29 million, a decrease of 6.1%. Online Casino numbers continued to fare considerably better. January 2016 $12.47 million versus $9.26 million in January 2015, a dynamic 34.6% increase.
Total Casino and Poker revenue for 2015 and 2016 was $11.6 million versus $14.6 million, the strong $3 million increase produced a 25.8% uptick.
BRICK & MORTAR POKER RESULTS
Brick and Mortar Poker revenues increased by $1.06 million for January. The Borgata revenues rebounded as it hosted the Annual Borgata Winter Open from January 19 – 31, and continued until February 5th.
The Borgata had 72.6% of the Revenue Share; Caesars two poker rooms had 18.6%.
The Tropicana revenue share to 6.2% and the Golden Nugget had its normal 2.5%. This year the GN didn’t even attempt to run its own tournament series.
CASINO/HOTEL PURCHASES REVISITED
Revel closed the Hotel/Casino September, 2014. Sold, but not yet opened. No tentative dates released.
Taj Mahal is still open sans poker room, still in receivership bankruptcy court.
Showboat was resold by Stockton College to a private developer. No plans released.
Hate to sound like a redundant, broken record, but the News from “America’s Favorite Playground”, former “Gambling Capital of the East Coast” remains stagnant, and its future is looking bleaker than this time last year.
The New Jersey legislature planned to act on pending legislation in 2015. Nothing. Last year former Presidential candidate and Governor Chris Christie appointed an Emergency Manager for AC. Reports from this appointee have not been released publically or transparently as was suggested. Nothing.
And today, NJ Legislators are going to try again next week to http://www.bloomberg.com/news/articles/2016-02-12/new-jersey-lawmakers-seek-to-revive-rejected-atlantic-city-plan”>re-introduce ANOTHER plan to bail out Atlantic City. But, Chris Christie is back in State after his failed attempt to become a New Hampshire resident, ready and willing to veto any thing that he feels is inappropriate.
Be positive New Jersey residents, as I said last year, the sun will come up tomorrow, albeit with below zero wind chills! Unofficial Summer is just 105 days away! And …… we can continue to play regulated online poker in New Jersey, as long as we don’t bleed the bankroll away on casino games! Life is good.