Yes MGM Resorts is ready to launch New Jersey's Online Gambling website, and plans to by the end of 2017!
In November 2013, New Jersey became the thirst state after Nevada and Delaware to have legalized online gambling, and MGM, the massive international gaming company seeks to be the newest entrant into the market.
The online gambling industry has been in revival mode for the last 12 months now, all thanks to PokerStars, the biggest online poker website in the garden state. MGM Resorts eyes this as a great opportunity to launch its playMGM online gaming portal, which will be a big player to compete with. This website will be launched in partnership with GVC Holdings Plc.
In a statement, Corey Sanders, COO of MGM’s said “This is a historic moment for MGM Resorts to be launching real-money online casino and poker under the MGM brand for the first time. GVC has been a first-rate partner for us, and we are excited about the possibilities of extending that partnership as regulated markets open up in the U.S.”
playMGM will come into being under Borgata online gaming license. Borgata Casino (of Atlantic City) is the parent company of MGM Resorts. The revival of land based casino’ has been credited to the online gambling industry which has resulted in Atlantic City’ struggling casino’ to clock revenue profits in a decade.
Revenues have surged up to $197 million in annual revenues, a 32% increase in the year 2016. The resurgence in the gambling industry has seen revenue generation of about $536 million for five casinos’ in New Jersey, which also includes their affiliates. Also, the state government has garnered a sum of $93 million in gambling taxes, which was much needed for the state treasury.
Prior to this, there were speculations around whether the land based casino revenues could take a back seat in the wake of online gambling industry, but results are contrary to the expected. Land based casino have gained from the online gambling upsurge. Online gaming revenues shot up by 40 percent in March 2017, as compared to the same period last year (the best so far). Other states like New York, Pennsylvania, and California want to follow in the footsteps of New Jersey and are all considering legalizing online gambling to further boost their fund generations through gaming taxes.
New Jersey’s online gambling industry has greatly benefitted Atlantic City, as in the last few years the city has seen 5 out of its 12 land-based casinos shut down due to bad market conditions. Online gaming now represents up to 19% of gross revenue for some AC casinos. The growth of the online gambling industry has once again encouraged investors to invest in different projects in the city.
If you would like to take advantage the booming online gambling industry, and the benefits that legal online gambling affords you, here is the list of legal online casinos in New Jersey, including bonus codes so you can try them risk-free!