NJ Online Gambling Struggling With Revenue [AUDIO]
Online gambling in New Jersey continues to see some financial struggles, but a bump in subscriptions could be the silver lining for the industry.
The latest May revenue report showed online gaming revenue totaled $10.4 million, which is a $1 million decline from the previous month. It marked the second consecutive month with falling revenues.
Since being implemented in the Garden State, online gambling has brought in $61.9 million, a far cry from the $200-300 million projected by state legislators - figures which, in retrospect, have been decried by casino analysts as being unrealistic and inflated.
While the revenue was declining, by the end of May, 351,136 new accounts were opened for online gambling sites. That's an almost 9 percent increase from April. Casino experts are excited about the potential of that figure, since the data base is the most valuable part of online gaming.
"You want them to understand that online casinos are there so the more people that are signing up the better it looks, and then all you have to do is provide them with a good experience and they'll keep coming back," said Roger Gros, publisher of Global Gaming Business Magazine.
While serious poker players were primarily the early adopters of online gambling in New Jersey, Gros said now they're seeing more casual casino gamers.
"[Which casino are happy about because] they're more valuable," Gros said. "Just as they are in land based casinos, they make more money off casino players so that's what they're looking for."