Online Casino Industry

Online Casinos in New Jersey Rake in Record Revenues

Jun 29, 2017

March 2017 turned out to be a record-breaking month for the New Jersey Online Casino industry as a whole as well as for several individual operators.

With the industry setting new milestones, Golden Nugget eclipsed $6 million in monthly casino revenue. Tropicana and Resorts also reported their best months till date.

These operators hit other major growth milestones:

Borgata Hotel Casino & Spa collected $150 million since its launch.

Tropicana Casino & Resort surpassed $100 million in total revenue.

Resorts Digital Gaming crossed the $50 million mark.

A quick glance at NJ ONLINE CASINO REVENUE in MARCH 2017

Historically, March has been one of the best months of the year for New Jersey online casino sites, and there was no exception to 2017. Beating the previous record of $18.8 million in January, the States online gaming operators generated over $21 million in March. The New Jerseys online gaming operators also sent $3.3 million in tax revenue to the state in the same month. Ever since its launch in November 2013, the state has received over $80 million from the New Jersey online gaming operators.

TOP LINE NUMBERS

The New Jersey Division of Gaming Enforcements latest monthly revenue report came out with the top line numbers, which are as follows:

Online casino revenue March 2017: $19,492,897

Online poker revenue March 2017: $2,252,534

Total online gaming revenue March 2017: $21,745,431

Year-to-date online gambling revenue: $59,287,619

Gaming and casino industry experienced considerable year-on-year growth in March with the new revenue record. However, with the introduction of PokerStars in last March, Pokers numbers declined, significantly.

Online poker: -8.47%

Online casino: +49.41%

Total revenue: +40.23%

The below-given chart shows the month-on-month revenue from 2013-17. It can be concluded from the chart that the New Jersey online gaming industry has flourished year-over-year.

Analysis: CASINO BY CASINO

Resorts Online Casino Leapfrogs Several Competitors

There just might be a new favorite online casino in town! Despite starting quite late, Resorts quickly gained market share in the crowded gambling market in New Jersey. However, after its gush of growth, Resorts leveled off and was stable for many months, until March 2017 when it seemed like thousands of new players are flocking to play here. Resorts posted $4.2 million, its best month till date in online gaming revenue, which catapulted it ahead of the competition.

Borgata Casino's #2 Spot Seems shaky

Although Borgata, the former number one online operator in the market had a good month (three percent year-over-year growth), its competitors grow significatly more over the same period.

GOLDEN NUGGET blockS $6 MILLION

GoldenNuggetCasino.com, BetfairCasino.com, and PlaySugarHouse.com, which are under the online casinos under Golden Nuggets umbrella shattered the previous monthly revenue record set by Golden Nugget.

With a revenue of $6.17 in March, Golden Nugget saw a 16 percent increase month-over-month.

TROPICANA POSTS best till date

Tropicana came out of its shell in March, posting $3.5 million. It is its best month to date. It chalked up $3.8 million in revenue last month.

CAESARS TRIPS AGAIN

March turned out to be a major disappointment for Caesars even with a less than one percent year-over-year drop in revenue. This indicates bad months for the online casino that too, back to back. Caesars fell off significantly in the month of March, however, its competitors were performing really well.

Legal NJ Online Casino Market Share Analysis: GOLDEN NUGGET Distances from its competitors

With a new revenue record, Golden Nugget has come far away from its competitors. Its market share reached 28.4 percent in March from 27.6 percent in February.

Competitor Borgata posted flat numbers due to which its market share stands at 20 percent.

However, Borgatas market share in New Jersey was at the top until May 2016:

Borgata: 24%

Caesars: 20%

Tropicana: 19%

Golden Nugget: 19%

Resorts: 18%

With time, the gap between the top and bottom operators minimized and by September 2016, the top five online operators in New Jersey had almost an equal market share with Golden Nugget being the market leader:

Golden Nugget: 22%

Borgata: 21%

Caesars: 20%

Tropicana: 19%

Resorts: 18%

HISTORICAL LOOK AT NJ ONLINE GAMBLING REVENUE

 

Do have a look at New Jersey online gambling revenue page for a detailed insight on iGaming revenue in the Garden State.

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