Legal New Jersey Online Casinos Set Records And Reach Major Milestones In March

Posted on April 12, 2017
[toc]March was a record-setting month for the New Jersey online gambling industry. It was also a month of records and major milestones for individual operators.

The industry set a new monthly revenue record, as did Golden Nugget, which eclipsed $6 million in monthly online casino revenue. Meanwhile Resorts and Tropicana posted their best months to date.

Three other operators hit their own milestones:

  • Borgata Hotel Casino & Spa surpassed $150 million since its launch.
  • Tropicana Casino & Resort crossed $100 million in total revenue.
  • Resorts Digital Gaming passed the $50 million mark.

March 2017 NJ online casino revenue at a glance

March has historically been one of the best months of the year for New Jersey online casino sites, and 2017 was no exception.

The state’s online gaming operators generated over $21 million in March, shattering the previous record of $18.8 million set in January.

New Jersey’s online gaming operators sent another $3.3 million in tax revenue to the state in March. Since launching in November 2013, New Jersey online gaming operators have paid over $80 million in tax revenue to the state.

Top line numbers

Here are the top line numbers from the New Jersey Division of Gaming Enforcement’s latest monthly revenue reports:

  • Online casino revenue March 2017: $19,492,897
  • Online poker revenue March 2017: $2,252,534
  • Total online gaming revenue March 2017: $21,745,431
  • Year-to-date online gambling revenue: $59,287,619

With a new revenue record, total gaming and casino revenue experienced substantial year-over-year increases in March. Poker declined, as last March’s numbers were inflated by the introduction of PokerStars.

  • Online poker: -8.47%
  • Online casino: +49.41%
  • Total revenue: +40.23%

As seen in the chart below, the New Jersey online gaming industry has yet to experience a year-over-year decline in any month.

Market share analysis: Golden Nugget pulls further away

With a new revenue record, and Borgata posting relatively flat numbers, Golden Nugget has put even more space between itself and its competitors. Golden Nugget’s market share increased from 27.6 percent in February to 28.4 percent in March.

Its next closest competitor is Borgata at 20 percent.

It wasn’t always this way. From the industry’s earliest days to May 2016, Borgata was the top dog in terms of market share in New Jersey:

  • Borgata: 24%
  • Caesars: 20%
  • Tropicana: 19%
  • Golden Nugget: 19%
  • Resorts: 18%

As the industry matured, the gap between the top and bottom operators shrank. By September 2016, the five NJ online operators had a nearly equal market share:

  • Golden Nugget: 22%
  • Borgata: 21%
  • Caesars: 20%
  • Tropicana: 19%
  • Resorts: 18%

Since then, Golden Nugget has become the clear market leader in New Jersey:

NJ online gambling market share March

Casino by casino analysis

NJ online gambling revenue March 2017

Borgata’s hold on #2 spot is tenuous

Borgata had a good month, with three percent year-over-year growth. But most of its competitors had great months, which makes March a so-so month for the former number one online operator in the market.

Golden Nugget eclipses $6 million

The online casinos under Golden Nugget’s umbrella (GoldenNuggetCasino.com, BetfairCasino.com, and PlaySugarHouse.com) shattered the previous monthly revenue record by a single operator, which was set by Golden Nugget last month.

Golden Nugget’s March revenue was $6.17 million, a 16 percent increase month-over-month.

Tropicana breaks through its ceiling

Tropicana had been stuck in a rut for months. But in March, the online casino busted through its glass ceiling of $3.5 million and posted its best month to date. Last month Tropicana chalked up $3.8 million in revenue.

[show-table name=cta-virgin]

Resorts leapfrogs several competitors

Despite a late start, Resorts managed to quickly gain market share in the already crowded New Jersey online gambling market. However, after its growth spurt, Resorts leveled off and has been relatively stagnant for months.

But March saw the casino soar. Resorts posted its best month to date, tallying $4.2 million in online gaming revenue. This was good enough for third place in the market, and only slightly behind Borgata.

Caesars stumbles… again

Even though revenue was down less than one percent year-over-year, March was a major disappointment for Caesars. That means it’s been back-to-back bad months for the online casino.

Last month revenue dropped significantly. In March, while its competitors were soaring, Caesars fell off again. Caesars’ year-over-year revenue was down a hair.

Historical look at NJ online gambling revenue

NJ online gambling all-time revenue

Be sure to check our New Jersey online gambling revenue page for a detailed breakdown of iGaming revenue in the Garden State.

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Steve Ruddock

Steve covers nearly every angle of online poker in his job as a full-time freelance poker writer. His primary focus is the developing legal and legislative picture for regulated US online poker and gambling.

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