The $4 million benchmark
Collectively, those three have managed the feat 23 times. Golden Nugget lays claim to 20 of those. It reached $4 million in NJ online casino revenue a full 18 months before any of its competitors.
Golden Nugget keeps growing
It would be impressive enough if Golden Nugget was simply posting good numbers more often than the others, but it has reached heights far beyond its competitors.
Not only has Golden Nugget accrued 20 of those $4 million months, it has also eclipsed:
- $5 million: 17 times
- $6 million: 11 times
- $7 million: six times
- $8 million: four times
Golden Nugget isn’t a one-brand show
Golden Nugget’s choice of sub-brands seems to be a key factor in its dominance.
Sub-brands are online partners that piggyback on the licenses held by casinos. Although there are only nine land-based casinos, there are currently 17 online casino brands in the market.
Eight belong to Atlantic City casinos.
The other nine brands belong to “foreign” casinos, parent companies, and partnered online platform providers.
Sub-brands key to success
According to the June report from analyst Eilers & Krejcik, Golden Nugget possesses the top two brands in the market and three of the top seven. These are listed as medium-confidence estimates since regulators report all revenue under the parent operator.
Bolstered by the performance of its sub-brands, Golden Nugget is the clear market leader.
When you remove AC casinos, the performance of the Betfair and SugarHouse sub-brands is every bit as dominating as the parent brand.
Betfair’s revenue averaged $2.5 million per month from April through June. SugarHouse averaged nearly $1.7 million over the same period.
Virgin, operating under Tropicana’s license, is the third strongest sub-brand in the market. It has a three-month average of just over $1 million in revenue.