The landscape of the gaming industry in New Jersey has witnessed significant developments, with innovative solutions and evolving trends shaping its trajectory.
Greco’s Gameplay Risk Engine: Enhancing New Jersey’s Gaming Landscape
London-based company Greco has secured a license to introduce its gameplay risk engine product to New Jersey’s gaming operators. This strategic move comes as Greco registers as a vendor in the state, positioning itself to offer its cutting-edge solution to Resorts Casino & Hotel’s New Jersey arm, Resorts Digital Gaming.
Resorts Digital Gaming CEO, Ed Andrewes, emphasizes the significance of Greco’s entry, stating that their risk engine will address a pressing challenge faced by operators. By leveraging Greco’s extensive experience in the European market, Resorts Digital Gaming anticipates bolstering its operations and combating obstacles.
Innovative Solutions: GeoComply’s Chargeback Integrator
Resorts Digital Gaming’s operational efficiency is further fortified through its partnership with geolocation data firm GeoComply. The utilization of GeoComply’s Chargeback Integrator (GCI) equips Resorts Digital Gaming to tackle credit card chargebacks effectively. GCI combines geolocation data and analytics with Accertify to identify the source of fraudulent credit card chargebacks. This innovative solution produces a Compelling Evidence Report upon each transaction, pinpointing the originating device of a bet. This robust approach fortifies the integrity of transactions and enhances security.
A Closer Look at New Jersey’s Gaming Revenue
The New Jersey Division of Gaming Enforcement recently unveiled insights into the state’s gaming revenue, shedding light on trends and fluctuations. In October, the collective revenue from casinos, horse tracks offering sports betting, and online partners amounted to $445.7 million. While this marks a 0.7% decline compared to October 2021’s $483.7 million, a deeper analysis provides a comprehensive view.
Casino win for Atlantic City’s nine casino hotel properties stood at $220.6 million, experiencing a 7.1% decrease from October 2021’s $237.5 million. However, the year-to-date total casino win showcases a positive trajectory, standing at $2.36 billion, a notable 10.3% increase from the same point last year.
In contrast, online gaming win displayed resilience, reaching $147.2 million, indicating a substantial 15.9% growth. Year-to-date, the total online gaming win surpassed expectations, totaling $1.37 billion, a remarkable 22.3% surge compared to the prior-year period.
Sports wagering gross revenue faced a minor setback, declining by 7.4% to $77.9 million from September 2021’s $84.2 million. Despite this, the overall revenue for sports wagering in the year-to-date context is $594.8 million, showcasing a moderate 7.3% decline compared to the prior period’s $641.9 million.
Navigating Dynamics and Shaping the Future
The gaming industry in New Jersey remains a dynamic and evolving landscape, marked by collaborations with innovative entities like Greco and GeoComply. These partnerships introduce novel solutions that enhance operational efficiency, security, and revenue streams for stakeholders. While the recent revenue trends depict fluctuations, the state’s gaming scene continues to adapt and grow, driven by advancements in technology, strategic alliances, and a resilient spirit. As the journey unfolds, the industry is poised to overcome challenges and capitalize on opportunities, ushering in a promising future for New Jersey’s gaming domain.