Exciting Times for the Gaming Industry in New Jersey

12/10/2019
News
Online Casino New Jersey

The gaming industry in New Jersey continues to hit the headlines, with the casino sector dominating a large proportion of the news agenda.

Rising revenues, legislative changes and operator investments are amongst the areas capturing the media’s attention, helping to keep the genre at the forefront of people’s thoughts.

Read on as we look at three of the biggest gaming stories from New Jersey.

Revenues still rising at a rapid rate

New Jersey’s online casinos and sports betting sites are continuing to enjoy a huge financial boom according to the latest financial reports.

The New Jersey Division of Gaming Enforcement has reported that October revenues for the two sectors returned revenue of more than $85 million during October.

Online casinos accounted for over half of that figure, highlighting their growing popularity within the region.

Golden Nugget once again led the way, raking in revenues in excess of $16.6m during the month. Resorts and Borgata rounded off the top three.

Resorts’ revenues broke through the $10m barrier in October, while Borgata topped $7.5m to finish around $3.5m ahead of Caesars and Tropicana.

The figures are undoubtedly impressive and are expected to continue on an upward curve over the coming months.

The growth appears to have had little impact on revenues generated by land-based casinos thus far, although it remains to be seen what the long-term effect will be.

Recovery Court graduates set for employment boost

Recovering drug addicts could be set to receive a major employment boost in the gaming industry over the next few months.

A proposed amendment to the law that prohibits anyone who has gone through recovery court from obtaining a license to work in a casino successfully passed its latest stage during November.

If the new bill becomes law, the Division of Gaming Enforcement will be able to approve casino employee applications for people who have gone through the recovery program.

Democratic Assemblymen, Vincent Mazzeo and John Armato, are the driving forces behind the bill which the former says will help people recovering from drug addiction get back on their feet.

“Substance abuse can lead to a vicious circle,” said Mazzeo. “With a drug conviction on their record, it can be difficult for a person to find gainful employment to try to better their lives.”

“To break this cycle, we’ll need to provide more viable opportunities for those recovering from substance abuse to become productive members of their communities.

The bill will be considered by the Senate in due course.

Evolution given green light to continue evolving

A local gaming agency has given Evolution Gaming the green light to significantly expand its operations in New Jersey.

Evolution asked the New Jersey Division of Gaming Enforcement for permission to expand its live dealer studio in NJ, and the DGE has now given its approval.

The plans will see Evolution expand the studio to more than 5,350-square-feet and will allow the addition of 26 extra gaming tables.

The DGE asked Evolution for assurances about security at the expanded facility, which the operator was able to successfully satisfy.

Evolution currently has ten live dealer studios around the world, but only two in North America – one each in New Jersey and British Columbia.

The company is also scheduled to open a new studio in Pennsylvania, although the official launch date for the facility is yet to be confirmed.

Evolution’s expansion should see the firm continue to build on what has been an impressive 2019, with their latest financial report showing revenues of €94.7m during the third quarter – a 47 percent increase on the corresponding period last year.

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