Casino News: NJ High, Oregon Jackpot, Crown Shares Drop

Casino News Roundup

This week’s casino starts off in the state of New Jersey where the state is coming off an excellent month. Let’s take a closer look at their online gambling revenues and see how the casinos did:

New Jersey Sets Online Gambling Record In March

Online gambling is alive and well in the state of New Jersey. The state Jersey enjoyed a hugely profitable month of March, relative to its regulated online gambling network.

The New Jersey Division of Gaming Enforcement reported that the state’s online gambling operators produced just over $39.1 million in revenue for March, a 53-percent increase from the same month last year. The figure was also $5.5 million above the market’s previous monthly high mark, which was set in January of 2019.

The New Jersey online casino vertical soared 57.7 percent to over $37.2 million. January’s casino year-on-year percentage gain was 58.5 percent, so in that respect it was better than March. However, March involved a higher dollar amount, by $6.1 million over January of 2019.

Atlantic City’s Golden Nugget Casino was one of the biggest winners of the month, pulling in record revenue of $14.2 million. That marked a 67 percent gain year over year. This was $2 million higher than the Golden Nugget’s previous monthly best.

Oregon Gambler Wins $1.5 Million On Penny Slot

When you hear about big jackpot wins, usually it’s tied to playing big bets in big hands or high stakes in slots. However, the life of an Oregon gambler changed on the penny slots. The customer ended up with an incredible $1.585 million payday last week.

The win came at the Chinook Winds Tribal Casino in Lincoln City, Oregon, and the casino stated that the guest hit the big jackpot on Saturday morning.

The gambler was a visitor to Lincoln City from Portland and was playing the MONOPOLY Hot Shot Wide Area Progressive slot machine. The key to the big win was that the player bet 300 credits per spin, which at one penny a spin equals $3 per pull. Also boosting the jackpot was the fact that the slot was on a wide area progressive jackpot. This means the prize amount was created by machine pulls all over the state of Oregon and not just the Chinook Winds casino itself.

Crown Shares Plummet After Wynn Cancels Multi-Billion-Dollar Casino Takeover

Wynn Resorts is again in the news as this time they’re making headlines in Australian. Shares in Australia’s Crown Resorts Limited took a big hit on Wednesday of last week after Wynn Resorts pulled out of talks for a $7.1 billion (U.S.) buyout of the brand. Shareholders had bumped up the stock price with the expectation of a buyout but the stock sunk on the latest news.

It’s unclear at this point whether this is final or whether this is part of the negotiation process. Some investors suggested to varying degrees that they were hoping for a change of heart.

Crown shares tumbled by 8.5 percent on Wednesday but overall, the stock price is still nearly 10 percent higher than when Wynn’s negotiations were first revealed. That shows that some investors believe Wynn is not fully walking away. At last check, share prices were at $12.86.