BUSINESS

New Jersey, Golden Nugget smash online revenue records

TAGs: New Jersey Online Gambling

new-jersey-online-gambling-revenue-record-marchNew Jersey’s regulated online gambling market utterly demolished its previous revenue record in the month of March, as did its leading online operator.

Figures released Thursday by the New Jersey Division of Gaming Enforcement (DGE) show the state’s licensed online gambling operators generated revenue of $25.6m in March, 17.6% higher than the same month last year and $3.6m more than the previous record set in February 2018. It’s the 13th consecutive month that the market has topped the $20m mark.

Stop us if you’ve heard this one, but the state’s online market has long been dominated by its casino vertical, and that discrepancy is growing larger. Online casino revenue shot up 21.1% year-on-year to $23.6m in March, while the online poker vertical fell 12.7% to $1.97m.

Everyone also knows that the Golden Nugget’s family of casino-only gambling sites – the Nugget’s own site, plus Betfair and PlaySugarhouse – is the undisputed king of the market, and the Nugget put an exclamation point on that claim by generating $8.65m in March, a 40% year-on-year improvement and besting its previous record of $7.88m in February 2018.

There was a three-way dogfight to be the Nugget’s runner-up, but the Borgata family of sites won out with just under $4.6m, of which $622k came via its poker vertical. However, the Borgata’s total was up only mildly from the $4.35m it earned in March 2017.

Caesars Interactive Entertainment New Jersey placed third with $4.4m, of which $565k came via poker. It’s a significant year-on-year gain from the $3.3m CIENJ earned last March.

Resorts Digital Gaming wasn’t far behind with $4.2m, with $779k coming from the poker operations of The Stars Group’s PokerStarsNJ.com. Resorts’ overall online revenue ties its prevous high-water mark in the same month last year.

The Tropicana’s casino-only site fell to last place with just under $3.7m, which not so long ago would have been considered a stellar performance. But clearly, the New Jersey market now judges itself by a different standard.

Comments

views and opinions expressed are those of the author and do not necessarily reflect those of CalvinAyre.com