Three Months, Three Records: NJ Online Gambling Industry Ends First Quarter With A Bang

0

New Jersey online gambling sites enjoyed another record-shattering revenue month in March, with all but one of the state’s five licensees beating out their all-time online casino bests.

With poker, slots and table games included, the overall total amounts to a hefty $25,580,210, a 17.6% year-over-year gain.

The chart toppers

The big revenue bump in March was a product of Borgata, Caesars, Golden Nugget and Resorts each topping their own individual bests. Tropicana, which took in 4% less than it did during the same period last year, was the only licensee that couldn’t celebrate a year-over-year increase.

Golden Nugget

Golden Nugget, partnered with SugarHouse and Betfair, was again the revenue leader, banking $8,655,240 and crushing its February take by nearly a million dollars. The total was enough to beat out its two closest competitors, Borgata and Caesars, combined.

The site continued with its popular Half-Million Dollar Race during March, which awards cash to its biggest spenders. High-volume players looking to dominate the leaderboard surely had an effect on Golden Nugget’s spectacular month.

Play Our Top Rated Casino Free!

$20 Free

  • 100% Bonus up to $1,000
  • Biggest Game Library in NJ
  • Live Dealer Games
  • Accepts PayPal

Caesars

Caesars had a stellar month in its own right, raking in $3,847,237 in total for a whopping 56% year-over-year gain. The standout performance can be attributed to the recent improvements that partner site 888 made to its product during the month. After years of neglect, the company enhanced the site with a spate of new games, accompanying the effort with a large-scale advertising campaign.

Borgata

Borgata also enjoyed a record-breaking month, although its year-on-year increase was a more modest 7%. The total was enough to put the licensee at over $200 million in lifetime revenue.

It’s likely that Borgata got a revenue boost from the launch of PartyCasino, the new and improved version of Party Poker’s online casino product. The company also put forth a substantial marketing effort to get the word out, which likely brought in more players and reactivated old ones.

Here’s a look at online casino revenue by operator for the month:

  • Golden Nugget: $8,655,240
  • Borgata : $3,960,614
  • Caesars: $3,847,237
  • Tropicana: $3,694,798
  • Resorts: $3,455,955

Upcoming Hard Rock AC could reignite growth

With the imminent launch of at least one new online casino, we are likely to see even more record-breaking months in the very near future. The much-anticipated Hard Rock Atlantic City casino is set to open its doors in late June, and plans to launch an online casino soon after.

Hard Rock, unlike many of the other online casino brands operating in NJ, is extremely well-known, and has potential to grow the market significantly.

Company officials have made clear that online gambling will not be treated as an afterthought – Hard Rock is committed to becoming the top iGaming site in the state. To achieve this, it has partnered with Gaming Innovation Group, a European software platform provider which is untested in NJ.

We expect Hard Rock to pour massive amounts of money into promoting both its land-based and online casino. The strength of its brand, coupled with a big marketing spend, could introduce a whole new wave of players to online gambling, setting the stage for even more record-breaking months.

Online poker

March revenue numbers do nothing to quell fears about the health of online poker in New Jersey. The state’s three poker licensees banked $1,966,366, a 12.7% Y/Y contraction.

All sites beat out their previous month’s totals. However, this was mostly due to the fact that February has fewer days. When compared to the same time period last year, each site lost significant ground.

Caesars enjoyed an uptick in revenue in February, due mostly to the success of its New Jersey Poker Classic II tournament series. The event was a bright spot on what has been a floundering vertical.

Here are the totals:

  • Resorts: $778,949
  • Borgata : $622,620
  • Caesars: $564,797

Total March revenue

LICENSEEPOKER REVENUECASINO REVENUETOTAL WINTAX REVENUE
Borgata$622,620$3,960,614$4,583,234$802,066
Caesars$564,797$3,847,237$4,412,034$772,106
Golden Nugget$8,655,240$8,655,240$1,514,667
Resorts$778,949$3,455,955$4,234,904$741,108
Tropicana$3,694,798$3,694,798$646,590
March totals$1,966,366$23,613,844$25,580,210$4,476,537

Total 2018 revenue

LICENSEEPOKER REVENUECASINO REVENUETOTAL WINTAX REVENUE
Borgata$1,782,245$10,746,535$12,528,780$2,192,537
Caesars$1,618,581$9,337,836$10,956,417$1,917,373
Golden Nugget$23,840,703$23,840,703$4,172,123
Resorts$2,289,224$9,608,761$11,897,985$2,082,147
Tropicana$10,310,788$10,310,788$1,804,388
2018 Totals$5,690,050$63,844,623$69,534,673$12,168,568
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.

Comments are closed.