New Jersey Online Casino Revenue
Every month has found to be unpredictable for the online gambling industry in New Jersey upon the conclusion of October’s 2018 listed revenue record. It hardly took long until November 2018 reported an unprecedented record the state’s online casinos have peaked once again .
Numbers on the board listing for the month of November 2018 came courtesy of the NJ Division of Gaming Enforcement, resulting the month’s online gambling revenue by a long chalk at $27 million.
Coming on the heels of those figures are the NJ online sports betting’s affixing $14.4 million, who have surmounted ahead of time disposing of one month left to list in 2018, compared to the previous year’s revenue total of $245.6 million.
Recent affairs by New Jersey’s online gambling operators till date flirt with a $1 billion in lifetime revenue, which in all manner of ways is shortened by a minimum of $7 million from accomplishment based on its current total of $255 million.
NJ Online Casino Revenue Numbers
The top line numbers indicating the latest monthly revenue reports according to the NJ Division of Gaming Enforcement show as follows.
New Jersey Online Gambling Revenue Updated on October 15, 2019 Every month the Division of Gaming Enforcement in New Jersey discharges the past month’s legitimate web based gambling revenue for each organization. According to the latest online gambling statistics, in New Jersey, the annual gross gaming revenue generated was $323,332,204 in 2018. That number was up from $266,851,688 in 2017, displaying a 21% year-over-year increase in revenue. How much money is gambled every year?
New Jersey Sports Betting Revenue NJ sports betting kicked off on June 14, 2018 with two retail sportsbooks in the state. That number quickly exploded and the market now boasts 17 sportsbook apps and 10 retail books at Atlantic City casinos and North Jersey racinos. New Jersey online casino revenue. For online casino play, the only concern is to find out what Golden Nugget is doing. Golden Nugget continues to dominate the online casino market in New Jersey. At this point, the online arm of the Marina District casino makes nearly twice its nearest competitor in terms of hold. Online Casino Revenue in New Jersey up by 129%. The New Jersey Department of Gaming Enforcement released May figures recently, displaying that online casinos reported a total of $85.9 million in revenue. Compared to May 2019, there’s a 129% year-on-year increase, all of it being a direct result of nation-wide casino shutdown.
Revenue by vertical:
- November 2018 online casino revenue: $25,382,434
- November 2018 online poker revenue: $1,561,639
- November 2018 online sports betting revenue: $14,446,570
Revenue totals:
- November 2018 total online gambling revenue: $26,944,073
- November 2018 total online gambling revenue w/ sports: $41,390,643
Online Casino Key Takeaway
October’s breakthrough being a premiere to set an advancing tone for NJ online casino’s momentum, rubbed off a back-to-back streak for the following month, accumulating $25 million in revenue.
The fortune’s wheel of the online casino revenue insisted by growing by more than a third, marking an impressive run they’ve last thrived steadily since 2016. Extent which, you knew that because of the uprush from the casino’s stance, the NJ sports betting customers wouldn’t resist from cross-selling.
Online Poker Key Takeaway
November 2018 marked the poker online industry’s decline in its five-year history of serving after experiencing an all-time low month. It has always been word on the street.
Its revenue once peaked at $3.5 million, and now has slipped down just below $1.5 million in November. At this rate, the online poker’s $2 million downfall is as low as a scholar repeating one grade three times.
Online Sports Betting Key Takeaway
On the contrary, $330 million off books would suffice to deem a rebound of online sports betting during its favorable month which took place October, considering its revenues attempting to virtually double up.
Note: Based on its malleable-tendencies, online sports betting will be distinguished/characterized from being comprised on the analysis below.
Growth Trends
Below are variations by the year:
- Online poker: -13.7 percent
- Online casino: +35 percent
- Total revenue: +30.7 percent
New Jersey Online Casino Revenues
Take notice of the chart below pertaining to monthly performances, when we speak of NJ online gaming industry possibly facing a slump by the year, the idea is still impervious. The chart is all inclusive of all other gambling avenues/streams, except the sports betting revenue.
Borgata Is Still Second-Best In NJ
- License holder: Borgata
- Brands and sub-brands: Borgata, PartyPoker, Pala, playMGM
Borgata certainly did not miss the boat during the month of November when their revenues registered a 12 percent increase year over year, as they steadily maintain stretching their arms out for a $5 million in monthly revenue. If only they could gravitate towards a launch stage.
Meanwhile, Golden Nugget casino have shown determination to make it a knack of accomplishing the $5 million milestone other properties scrape up for on the contrary.
Golden Nugget Is On Top Of The World
- License holder: Golden Nugget
- Brands and sub-brands: Golden Nugget, Betfair, SugarHouse
Golden Nugget also stayed afloat in the face of revenues fluctuating month-over-month, Tropicana also relating with their fair share as a relevant instance, of which the rest you may possibly fill in.
Considering they got the hang of their growing online casino revenue year over year, Golden Nugget are appeased with approximately 50 percent.
Tropicana Online Casino
By accumulating more than $9 million of revenue substantiates their domination in the NJ online gambling market.
Tropicana Taking A Step Back
- License holder: Tropicana
- Brands and sub-brands: Tropicana, Virgin
Undeterred by their prominence in the market, the property’s appeal for the potentiality of online gambling has more so heightened beyond doubt of late. However, Tropicana have outdone their November efforts as results show.
Resorts Casino Takes A Steady Path
- License holder: Resorts AC
- Brands and sub-brands: Resorts, Mohegan Sun, PokerStars NJ
This month’s results for Resorts have been somewhat mediocre, considering an upward of only 1 percent year over year and within a little 2.5 percent month over month.
Caesars Continues To Move Forward
- License holder: Caesars
- Brands and sub-brands: 888, Caesars, Harrah’s, WSOP
As much as it appears as their benchmark, Caesars’ recent consecutive backslide into dash hopes of a $4 million between October and November is more than true to form take into account their capabilities nonetheless.
Hard Rock Gaining Market Share
- License holder: Hard Rock
- Brands and sub-brands: Hard Rock
Hard Rock has recorded remarkable numbers last month after a million dollars was accumulated, realizing that to be the fastest-accomplished result in the industry’s five-year history. Their November month listed about a 30 percent increase month over month.
Ocean Resort Still At The Bottom
- License holder: Ocean Resort Casino
- Brands and sub-brands: Ocean Resort
Coming in lagging behind Hard Rock by a margin listing $730k for the month is Ocean Resort. Fairly new in the city actualizing online revenue growth, and immersing itself in the activities but mildly showing aggressive progress.
July 2020 has been the biggest month on record for New Jersey's online casinos. It seems that land-based casino closings didn't curb Garden State residents' desire to gamble. July saw record numbers!
The Numbers: July 2020
The online casinos saw casino and poker saw $87,492,952 in revenue in July this year. Compare that to last July's 39,315,731, and you'll see a 122.5% increase!
It should come as no surprise that Golden Nugget's online casinowas the big winner yet again in July. They pulled in a whopping $31,480,080 (compared to their $14,895,411 in July 2019). In a very distant second place, Resorts brought in $18,031,664, then Borgata with $15,297,228.
This is an improvement over the record-high numbers we saw in May: $85.9 million.
Comparison with 2019
Online casinos have seen a steady rise in New Jersey since they were first legalized in 2013. While neighboring Pennsylvania and Delaware also have online casino markets, it seems that New Jersey's only competition is with itself.
January through July 2020 saw $510m in revenue. This means in the first seven months of 2020, they have already beaten the $482m gained over the whole of 2019.
How Long Can This Continue?
Despite COVID measures, online casinos are seeing a steady increase. While some casinos are closing and others are open with some distancing measures, it's no surprise that casino closings are diverting gamblers to online casinos.
The question is, will online casino players return to the land-based casinos once they reopen? There are many reasons to play online instead, including great no deposit bonuses, free spins, and more transparency for Return to Player. Still, we foresee that the good relationship between online and physical casinos will continue in the future.