New Jersey Opens its Doors to Online Casinos
It can be argued that gambling online in New Jersey didn’t really take off as envisaged. It was expected to get off to a flying start as it had elsewhere, but it sort of just trudged along before it managed to gain a foothold in the industry, with the touch paper then being well and truly lit. Since then, online gambling has been growing at a mightily impressive rate, with the trend growing as time goes on.
The year on year growth in terms of the revenue made has been quite astounding and the figures accurately reflect this. In 2014 the gross revenue stood at $123 million, it rose to $149 million in 2015, $197 million in 2016 and then took a huge jump to $246 million in 2017. Year on year growth has exceeded 20% in each of the past three years and this shows just how successful online gambling in New Jersey has become.
Based on that success it comes as no surprise that people are being warned to expect another growth spurt in the not too distant future. The New Jersey Division of Gaming Enforcement has confirmed that internet gaming licenses have been applied for by both Ocean Resort and Hard Rock AC. However it remains to be seen whether either place will offer online poker.
In terms of Ocean Resort this announcement comes after they established a multi-year partnership with GAN. The deal sees them being able to provide real-money gambling services for players to enjoy in New Jersey and it would also be a huge step forward in terms of online sports betting too, provided that the ruling from the US Supreme Court goes in their favour that is.
Hard Rock were currently in a position where they were still searching for someone to power their services. They have had numerous options to pick from as they looked to establish themselves in New Jersey; however, it is the Gaming Innovation Group (GiG) that has been confirmed as the best way to go. CEO of GiG, Robin Reed is extremely confident this partnership will result in a ‘stand-out product with the sizzle of the Hard Rock music, entertainment and lifestyle brand’.
New Jersey and online casinos are certainly a match made in heaven it seems and the fact that the year on year growth figures keep rising on a consistent basis, proves that there’s a continued and greater demand by players who are looking to play their favourite games such as slots, blackjack, roulette and poker. This has been confirmed by PartyCasino New Jersey one of the main casino arms of the GVC Group.
It’s also a great move by the state itself too for various different reasons. First of all the regulation of the online casinos means that tax revenue will be generated, providing more money for the state to spend elsewhere and use to their advantage. This has already been successful and with more online casinos being added, the revenue from tax will only increase.
Online casinos which are regulated will also help to provide players with a safe environment where they can gamble too. There are a lot of unlicensed off shore casinos in operation which have stolen funds from players but with regulation in place, gaming audiences will now know the games being enjoyed are always fair and that their funds and details are secure too.
Therefore, it is safe to expect that New Jersey will be one the states to lead the way in making online casino brands acceptable and legitimate. There is no doubt we are still a long way from a complete resolution on the topic, but fans of online gaming and everyone in the industry will definitely be pleased with the progressive made thus far.