BUSINESS

New Jersey online gambling revenue tops $20m for 7th month

TAGs: New Jersey Online Gambling

new-jersey-online-gambling-revenue-golden-nuggetNew Jersey’s regulated online gambling market posted its seventh straight month of +$20m revenue in September, although the online poker vertical’s contribution continues to fall.

Figures released Thursday by the New Jersey Division of Gaming Enforcement (DGE) show state-licensed online gambling operators generated revenue of just under $20.4m in September, more than one-quarter higher than the same month last year, although the sum was nearly $1m less than what the sites reported in August 2017.

The online casino vertical did its part to keep the seven-month streak going, with revenue rising 30% to just under $18.5m. Meanwhile, online poker fell 5.7% year-on-year to $1.9m, not far off the vertical’s historic low of $1.73m recorded this June.

For the year-to-date, the overall online market is up 27% to $183.7m, with casino improving nearly one-third to $165.1m while poker is down nearly 7% to $18.6m.

The market extended a different streak in September, as the Golden Nugget’s online casino operations maintained their market-leading revenue position with $5.7m, half-a-million more than Nugget-licensed sites – Goldennuggetcasino.com, Betfaircasino.com and Playsugarhouse.com – reported in August.

The Borgata family of sites – including the Borgata’s own domains, PartyPoker, PalaCasino.com and the new MGM-branded poker and casino sites – ranked second on the revenue chart with $4.24m ($3.6m casino, $632k poker).

In third place was Resorts Digital Gaming, under whose umbrella sits The Stars Group’s PokerStarsNJ.com, reporting just under $3.6m ($2.9m casino, $708k poker). The Tropicana’s casino-only sites earned $3.428m, narrowly edging out the month’s cellar dweller, Caesars Interactive Entertainment New Jersey’s $3.422m ($2.86m casino, $561k poker).

Sadly, Resorts Digital Gaming’s revenue breakdown doesn’t extend to quantifying the potential impact of its new FastPick fantasy sports parlay betting product, which is powered by Sport Analytics & Data. Then again, maybe we don’t want to know. Nevada’s pari-mutuel fantasy betting product from US Fantasy Sports reported revenue of only $7k in August, according to official Nevada Gaming Control Board figures, although Nevada bettors have actual sports betting at their legal disposal.

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