A Surging Golden Nugget Helps NJ Online Casinos Break All-Time Revenue Record in January

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NJ online casinos kicked off 2018 with a bang, raking in a total of $21,962,339 in January, the biggest single-month take in the industry’s history. Licensee Golden Nugget was instrumental in achieving the milestone, smashing its own previous revenue record by over $1 million. Online poker, on the other hand, continues to struggle, posting its eleventh consecutive year-over-year decrease.

Slots and table games spike

All told, NJ gaming sites took in $20,011,643 in slots and table games, reflecting a healthy 21.4% gain compared with the same time period last year.

While the industry has never seen a Y/Y decrease, it saw its smallest increase ever in December, down to just 15.6%. That slowdown, coupled with other factors, has led us to conclude that the industry is nearing a mature point in its lifecycle, and will not continue to experience the explosive growth it has in the past. For more, check out our exclusive 2017 recap and 2018 preview white paper:

[icon name=”file-pdf-o” class=”fa-lg”  unprefixed_class=””]   DownloadNJ Online Gambling 2017 Recap And 2018 Outlook: Five Years, $1 Billion

Golden Nugget soars

Golden Nugget, which also includes Betfair and SugarHouse casinos under its umbrella, took in a hefty $7,299,815 in online casino earnings last month, the highest amount ever posted by a licensee in the state. The site’s previous record was set in July of last year when it banked $6,249,752. Golden Nugget was by far the revenue leader in 2017, boasting $68.5 million in total revenue, over $20 million more than its closest competitor, Borgata.

Golden Nugget and its partners seem to have cracked the code in New Jersey, consistently earning more than their rivals. With its slick website and massive game selection, it’s not hard to see why players gravitate toward Golden Nugget. The same can be said about Betfair, which has turned out to be a somewhat unexpected success in the state.

Even though it got a late start, launching in 2016, SugarHouse has boosted the trio further. The casino has gained a large following due to its innovative site design and rewarding loyalty program.

Resorts Casino and the rest

Resorts Casino saw big month-over-month gains in January, raking in $3,070,386 and coming close to breaking its all-time record of $3.2 million. Here’s a breakdown of online casino revenue by site:

  • Golden Nugget: $7,299,815
  • Borgata: $3,526,844
  • Tropicana: $3,269,530
  • Resorts: $3,070,386
  • Caesars: $2,845,068

No respite for online poker

The online poker ecosystem in New Jersey has shown itself to be in trouble over the past year, and January’s numbers did nothing to help assuage that fear. The state’s three poker licensees banked $1,950,696 last month, a 16.6% decrease Y/Y. PokerStars is still the king, and has cut itself out a 42% slice of the state online poker pie.

Full January numbers by network:

  • Borgata/Party Poker/playMGM: $626,689
  • WSOP/888: $507,048
  • PokerStars: $816,959

Poker compacts could provide a shot in the arm

The latest revenue drop is the eleventh month in a row the industry has suffered a decline, a trend which would likely have started earlier had PokerStars not created renewed interest when it launched in 2016.

But while New Jersey online poker is hampered by the fact that only those inside the state can take part, things may soon change. Last year, NJ struck a deal with Nevada and Delaware to share player pools across state lines, a development which could increase game selection for players and beget even more patrons.

What’s more, when Pennsylvania online poker sites open up shop later this year, there is a strong possibility they will be included in the compact as well. This could provide a much-needed shot in the arm for the industry, creating the critical mass needed to support multiple online poker rooms.

Total January 2018 Revenue

LICENSEEPOKER REVENUECASINO REVENUETOTAL WINTAX REVENUE
Borgata$626,689$3,526,844$4,153,533$726,868
Caesars$507,048$2,845,068$3,352,116$586,620
Golden Nugget$7,299,815$7,299,815$1,277,468
Resorts$816,959$3,070,386$3,887,345$680,285
Tropicana$3,269,530$3,269,530$572,168
January totals$1,950,696$20,011,643$21,962,339$3,843,409
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Bill Grinstead

Bill has over a decade of experience working in diverse aspects of the online gambling space. He is currently focused on legal, US online gaming, which he has reported on since the industry first became regulated in the country.

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