BUSINESS

New Jersey comes within whisker of all-time online gambling record

TAGs: New Jersey Online Gambling

new-jersey-online-gambling-revenue-mayNew Jersey’s regulated online gambling market came within a whisker of eclipsing its all-time monthly revenue record in May.

Figures released Wednesday by the New Jersey Division of Gaming Enforcement (DGE) show the state’s licensed online gambling operators generated combined revenue of $38.34m in May, a stellar 57.8% improvement over the same month last year and only around $800k below the market’s all-time record of $39.1m set this March.

As usual, the online casino vertical did all the heavy lifting, shooting up 63.3% year-on-year to over $36.5m, while the poker vertical dipped 6.8% to $1.8m. For the year-to-date, overall online revenue is up 53.5% to $179.4m, with casino rising 58.5% to $170.3m and poker falling 3.4% to less than $9.1m.

The perennially market-leading Golden Nugget’s family of online casino sites didn’t disappoint in May, generating revenue of just under $14.1m, nearly two-thirds higher year-on-year and within spitting distance of its all-time best of $14.2m (also set this March).

Resorts Digital, whose operations include DraftKings‘ online casino and PokerStars’ casino and poker operations, reported combined revenue of just under $8m, of which $688k came via poker. Resorts’ overall sum is nearly 120% higher year-on-year, thanks in part to DraftKings cross-selling its online casino to its sizable online sports betting audience.

The Borgata family of sites reported revenue of $5.9m, of which $394k came from poker. It’s a testament to the outsized growth posted by the two market leaders that the Borgata’s annual growth of nearly 29% seems unremarkable.

Speaking of unremarkable, Caesars Interactive Entertainment New Jersey saw its revenue rise only 9.4% to just under $4.5m, despite its poker product – the only one offering interstate liquidity – topping all others with $715k.

As for the market’s other casino-only sites, the Tropicana was up 15% to $3.9m, while Hard Rock Atlantic City ($1.5m) easily outpaced the market’s other online newcomer Ocean Casino Resort ($476k).

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