On Wednesday the New Jersey Division of Gaming Enforcement released the state’s April online gaming revenue report, and for the fifth consecutive month there is reason for optimism contained within the numbers.
The biggest bright spot is the fact that April 2015 was the second best month the New Jersey online casino industry has tallied since launching in November of 2013, falling short of March 2015’s record-setting total.
Also of note, the April online gaming revenue numbers may have been down industry-wide in New Jersey, but April still managed to produce a double-digit increase year-over-year:
- April 2014: $11.42 million
- April 2015: $12.69 million
- YoY increase: 10%
Several individual operators posted impressive results, particularly on the casino side.
We have a new number 1 NJ online casino
In April, Golden Nugget finally broke the magical $3 million mark, posting $3.304 million in online casino revenue. This was the most by any operator for the month, and the largest monthly total by a single operator in NJ history, breaking the previous record of $3.042 million that was set by Tropicana in March.
Since adding the wayward Betfair Casino to its license in November of 2014, Golden Nugget has been steadily climbing toward the number one spot, which they finally reached last month.
Tropicana continues to dazzle
Even though revenue dropped by some 10% month-over-month ($3 million to $2.7 million), and even though Golden Nugget and Borgata leapfrogged them in monthly online casino revenue, Tropicana’s online casino performance continues to be one of the industry’s most pleasant surprises.
Borgata defends the wall
Speaking of Borgata, every time Borgata appears vulnerable they manage to rebound with a solid month and maintain its hold on the title of “top revenue producer in New Jersey iGaming.”
Borgata dipped just below the $4 million mark in April (counting online casino and online poker revenue) but still posted its second-best monthly revenue total since July of 2014.
Resorts makes steady progress
Resorts Casino is the newest player on the iGaming scene in New Jersey and despite the fact the casino is still waiting on its other dancing partner, PokerStars, it has already shown it may be a force in the coming months, as revenue ticked up for the third consecutive month:
- February 2015 (launched): $50,909
- March 2015: $154,071
- April 2015: $212,739
Industry is trending upward
As a whole the New Jersey iGaming industry is showing tremendous growth in 2015.
2014 saw the industry start strong and peter out, but 2015 has managed to avoid the downturn that plagued 2014’s revenue totals, at least thus far.
After totaling $123 million in gross gaming revenue in 2014, the industry is on pace to mark up over $143 million in 2015.
Based on the current trend line, this number could rise even higher, perhaps eclipsing $150 million.
This positive trend (beginning in December of 2014) becomes even more evident if we account for the two jackpots paid out (noted in red), one in June 2014 ($1.3 million) and one in February 2015 ($1.5 million) that decimated revenue numbers in those two months:
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