The New Jersey Division of Gaming Enforcement released the November online gambling revenue numbers on Wednesday, and it was a solid month for the industry all around.
The $17.2 million generated last month was the second best month in the industry’s history. It is only the second month that has seen New Jersey online gambling revenue break the $17 million mark.
New Jersey has now seen eight consecutive months of 30 percent or greater growth (year over year)/ November was the eighth consecutive month the industry was above $16 million in revenue.
The industry as a whole was up 30 percent year-over-year in November. Individually, online poker was up six percent and online casino was up 34 percent.
- November 2016 online casino revenue: $15.1 million
- November 2016 online poker revenue: $2.1 million
- November 2016 total online gambling revenue: $17.2 million
- Year to date online gambling revenue: $178,452,129
$200 million is unofficially out of reach
As good as the numbers were, they weren’t spectacular, which pretty much puts the hopes of a $200 million year out of reach.
To be fair, it was going to take two extraordinary months in November and December to hit $200 million. As strong as the numbers were in November, with 30 percent YoY growth and the second best revenue total to date, they weren’t the extraordinary numbers the industry needed for a major victory over the naysayers, and to debunk the notion that the industry has been a “failure.”
That being said, barring a calamitous December, the industry is going to tally well over $195 million in 2016 (likely between $196-$198 million), so the $200 million narrative will likely still be picked up by media outlets, who will phrase it as “just shy of $200 million” or something similar.
Poker revenue stagnates following a banner month in October
October saw online poker revenue jump 36 percent YoY thanks in large part to major online tournament series at two of the state’s three online poker networks. Borgata and PartyPoker hosted the Garden State Super Series (GSSS) in October. PokerStars ran its first New Jersey Championship of Online Poker that acted as a lead-in for PokerStars’ first live tournament series at Resorts, the PokerStars Festival New Jersey.
November saw online poker revenue numbers fall back down to earth, but the good news is there was still YoY growth, even if it was somewhat trivial.
YoY growth continues
Here is a look at the market’s percentage of YoY changes in 2016:
- January +26%
- February +42%
- March +18%
- April +34%
- May +33%
- June +40%
- July +39%
- August +32%
- September +35%
- October +39%
- November +30%
And this growth in 2016 is merely a continuation of the trend we saw develop at the tail end of 2015:
How did the individual operators do?
- Borgata: $3,809,064
- Borgata iPoker: $621,874
- Borgata iCasino: $3,187,890
- Caesars: $3,362,072
- Caesars iPoker: $632,459
- Caesars iCasino: $2,729,613
- Tropicana: $2,984,084
- Golden Nugget: $3,802,276
- Resorts: $3,212,082
- Resorts iPoker: $829,309
- Resorts iCasino: $2,382,773
Borgata retakes the lead by a whisker
Despite a significant month-over-month drop in online poker revenue, Borgata saw total online gambling revenue rise thanks to a solid month on the online casino front.
Borgata also squeaked past Golden Nugget (by less than $7,000) to reclaim the top spot, but it’s unclear whether Golden Nugget’s November swoon (Golden Nugget was one of two online casino operator that saw online casino revenue drop in November; Tropicana was the other) was a product of a jackpot, in which case its drop to the No. 2 spot will likely be short-lived.
Golden Nugget dips but remains strong
Golden Nugget continues to be one of the biggest surprises in the New Jersey online casino industry.
After posting the first and only $4 million month (online casino revenue only), Golden Nugget has followed it up with the second best monthly online casino tally in New Jersey history. If we take an even wider view, Golden Nugget’s past five months are the five best months in New Jersey online casino history.
A lot of this has to do with the many ambitious strategic decisions Golden Nugget has made along the way. That includes taking in the wayward Betfair online casino to launching live dealer games to teaming up with Pennsylvania’s SugarHouse Casino — a testament to their executive management team.
Tropicana falls below $3 million again
Tropicana fell below the $3 million mark (a line the company’s online casino has been hovering slightly above or slightly below for the entirety of 2016), which may or may not have been due to a jackpot. The seasonal trends and numbers from the other online casinos in the market point to a jackpot.
Last month, I went out on a limb and said Resorts was probably the victim of a pretty substantial jackpot in October based on the lackluster revenue numbers Resorts posted on the online casino side. With a solid rebound in November, it looks like this was in fact the case, as the casino posted its second best month in its 22-month history.
Resorts’ online gambling performance since launch:
- February 2015: $50,909
- March 2015: $154,071
- April 2015: $212,739
- May 2015: $324,662
- June 2015: $400,600
- July 2015: $558,316
- August 2015: $735,140
- September 2015: $944,299
- October 2015: $899,184
- November 2015: $1,215,832
- December 2015: $1,288,079
- January 2016: $1,434,295
- February 2016: $1,318,338
- March 2016: $1,878,097
- April 2016: $3,478,108
- May 2016: $2,995,558
- June 2016: $2,703,042
- July 2016: $3,052,298
- August 2016: $2,896,284
- September 2016: $2,911,044
- October 2016: $2,741,142
- November 2016: $3,212,082
Caesars posts second best month to date
Like the industry as a whole, Caesars also posted its second best month in November.
Caesars has been somewhat erratic of late, but the company should be pretty happy with where it’s ending 2016 considering where it was ranked in the New Jersey market this time last year.
Historical look at iGaming revenue in NJ
Be sure to check our New Jersey iGaming revenue page for a detailed breakdown of online gambling revenue in the Garden State.