ATLANTIC CITY, N.J., Feb. 28, 2018 /PRNewswire/ -- Analysts from DGS Media, which tracks New Jersey's legal online gambling and casino industry on its website, NJOnlineGambling.com, have released a new white paper that recaps an unparalleled year of growth for the regulated New Jersey online gambling industry in 2017 and takes an in-depth look at what 2018 has in store for the burgeoning industry.
The white paper, titled "New Jersey Online Gambling 2017 Recap and 2018 Outlook: Five Years, $1 billion," highlights trends driving the industry's growth, including the proliferation of Live Dealer games; the debut of new formats, such as Slingo, Scratchers, and Virtual Sports; a rather dramatic increase in the number of online slot terminals; a number of newer online casino operators hitting their stride, including offerings from SugarHouse and MGM; and the spread of PayPal as a deposit and withdrawal option amongst more operators.
The white paper also provides both "by the numbers" and a competitive analysis of New Jersey online casino licensees, including Borgata (whose license also covers the PartyPoker, PlayMGM, Pala and Scores brands within New Jersey's borders); Caesars (including WSOP, 888 and Harrah's); Golden Nugget (including Betfair and SugarHouse); Resorts (including Mohegan Sun and PokerStars); and Tropicana (including Virgin-branded online casinos).
Key numbers
- $245.6 million: The amount of revenue New Jersey online gambling sites generated in 2017, up 24.9% from $196.7 million in 2016.
- 30.1%: The percentage by which online casino revenue climbed year-on-year. Online poker revenue moved in the other direction, down 8.5%.
- $43 million: The amount of taxes state regulated iGaming sites paid to state coffers in 2017. Lifetime taxes paid exceeds $126.4 million.
- $772.4 million: Gross gaming revenue generated since the launch of NJ online gambling in November 2013.
- 10.7%: The percentage which we predict revenue will grow in 2018, resulting in annual GGR of $271.9 million.
- $994.3 million: Base case prediction for how much revenue the industry will have generated by the close of its fifth full year (2018).
- 19.0%: Bull case for which we predict revenue will grow in 2018, resulting in annual GGR of $292.3 million, and lifetime GGR of $1.01 billion.
The white paper estimates both bull and bear case revenues for both the state's online gambling industry and each operator.
Even more new brands, new formats, interstate poker liquidity and the possibility of the federal ban on sports betting, known as PASPA, being lifted round out the base case for the industry as a whole.
Market maturity, delays and operator neglect as operators turn their focus to the state of Pennsylvania, which is taking steps to welcome the industry in 2018, are factors which could see the rapid pace of growth begin to slow.
The paper's lead author, New Jersey-based Robert DellaFave, serves as Senior Analyst for DGS Media. DellaFave frequently contributes his analysis of the regulated online gambling industry to a number of media outlets. His white papers have been cited by media outlets including Yahoo Finance, ESPN, The Morning Call, and others. Analyst Ryan Ocello also contributed to the report.
The white paper can be viewed online or downloaded in PDF format for free at:
https://www.njonlinegambling.com/nj-online-gambling-2017-recap-whitepaper/
ABOUT DGS MEDIA
DGS Media operates NJOnlineGambling.com, an independent resource created by a team of iGaming professionals exclusively for New Jersey online gambling enthusiasts and industry followers. The web site covers the latest industry news, reviews of Garden State gaming operators, game guides and more.
In late 2017, DGS Media also launched PennBets.com, a similar resource for Pennsylvania residents, where online gambling is expected to be phased in beginning this year.
Contact:
Timothy Williams
1-818-812-6606
twilliams@upliftpr.com
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SOURCE NJOnlineGambling.com
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