Growing online casino market for New Jersey
Still in a state of semi-stagnation after the legalizing on online gambling in 2013 in the state of New Jersey, online poker is not faring well among the states citizens. Regardless of eagerness among casino operators to open online poker rooms at the advent of the gambling ruling, it looks like the niche market is still at a stand-still.
According to report from the New Jersey Division of Gaming Enforcement the online poker market is actually seeing a steady decline since its launch in 2013. Apparently the fiscal year ending in June recorded the lowest revenue since the online gambling segment was legalized. Compared to 2014 GGR this year’s income was 10% lower.
Experts predict that the market will continue to fall seeing as this is a trend set at the beginning of January. Although operators were expecting a slight decrease to occur due to the summer months the continuous drop has shortsighted the online gambling market overall. No one had expected such a sharp drop of 10%.
According to the New Jersey gambling industry they are not seeing things as gray since June of 2015 recorded an increase of 22.8% when compared to June 2014, so things are actually looking up in that sense.
The DGE predict that introducing big online Poker names into the New Jersey gambling market might just be what’s needed to spice things up and bring up the revenue mark.