According to a new report from our sister site mGamingWatch, the state of New Jersey has suffered its first monthly revenue decline in online gambling since real-money gaming activity was regulated within the state and formally launched last fall.
“New Jersey’s fledgling Internet gambling industry saw its first monthly decline, falling slightly to $11.4 million in April,” The Chron reports.
In March, which had one more day of gambling than April had, Internet gambling brought in $11.9 million… Online gambling had shown monthly increases of 28 percent in January, 9 percent in February, and 15 percent in March.
Joe Lupo, senior vice president of the Borgata Hotel Casino & Spa, is quoted in the report saying that over time, revenues – particularly those tied to mobile gambling – will likely accelerate.
“Getting the different platforms to work with 3G and 4G smartphones will help in coming months,” the report notes of his prediction, adding that Lupo and the industry at large are hopeful that recent account funding glitches with credit cards and electronic payments will soon be resolved and not impede the growth of online gambling in the Garden State.
“It simply takes time when launching a new business,” he said.