April wasn’t a record-setting month, but it was yet another strong showing for New Jersey online casinos.
Overall, the state’s operators tallied $36.6 million in online gambling (casino and poker) revenue for the month, with online sports betting in NJ adding another $16.6 million to the industry’s revenue tally.
The recent online casino growth (a whopping 64% in April) leaves little doubt: Sports betting is propelling the NJ online casino industry to new heights.
Top line numbers
Here are the top line numbers from the New Jersey Division of Gaming Enforcement’s latest monthly revenue reports.
Revenue by vertical, April 2019:
- Online casino revenue: $34,914,957
- Online poker revenue: $1,667,977
- Online sports betting revenue: $16,556,115
Revenue totals, April 2019:
- Total online gambling revenue: $36,582,934
- Total online gambling revenue w/sports: $53,139,049
Here’s a look at the Y/Y changes:
- Online poker: -5.30%
- Online casino: +64.25%
- Total revenue: +58.93%
As seen in the chart below, the New Jersey online gaming industry has yet to experience a year-over-year decline in any month (Note: This chart doesn’t include sports betting revenue).
The chart also highlights the dramatic spike in growth since the launch of sports betting, with the Y/Y lines diverging significantly in recent months.
Casino by casino analysis
Borgata stays above $5 million
- License holder: Borgata
- Brands and sub-brands: Borgata, Party, Pala, playMGM
- Market share: 14.9% (+1% M/M)
Borgata was the online gambling market leader for multiple years following the launch of online casino in NJ, and while it’s nowhere near ready to challenge for that title in 2019, it’s revenue is trending in the right direction.
Borgata was more than $5 million in revenue for the second consecutive month in April.
And for the first time, it cracked $5 million in online casino revenue. The $5 million it posted in March was a combination of online casino and online poker.
Golden Nugget is truly golden
- License holder: Golden Nugget
- Brands and sub-brands: Golden Nugget, Betfair, SugarHouse, BetAmerica
- Market share: 37.9% (+1.5% M/M)
When it comes to Golden Nugget, there’s not much to say that hasn’t been said already.
Golden Nugget is once again the online casino market leader in New Jersey. And once again, no one else was even close. Golden Nugget’s $13.85 million revenue tally is nearly double its closest competitor, Resorts.
Tropicana hasn’t capitalized on sports betting
Tropicana posted a small Y/Y revenue increase in April, but the casino’s online offerings are still stuck in neutral. And don’t expect that to change anytime soon.
Without an online sportsbook to generate cross-selling opportunities, Tropicana will continue to post sub-$4 million months.
Resorts maintains its place in the rankings
- License holder: Resorts AC
- Brands and sub-brands: Resorts, Mohegan Sun, PokerStars NJ, DraftKings casino
- Market share: 19.5% (-2.1% M/M)
April was another solid month for Resorts Casino’s online sites.
However, it looks like the initial rush to the virtual tables following the launch of the DraftKings online casino has subsided.
Still, even with a limited product, DraftKings is believed to be accounting for roughly 40% of all online casino revenue generated under the Resorts license.
Caesars trends up, but still a lot of work to do
- License holder: Caesars
- Brands and sub-brands: 888, Caesars, Harrah’s, WSOP
- Market share: 12.5% (-1.5% M/M)
Caesars online casino has been a pleasant surprise in 2019, and for the third time in the last four months, the company’s NJ online casino saw revenues exceed $4.5 million.
That said, the company has yet to take that next step and become a tier 1 online operator in the market.
Hard Rock’s growth stalls out
- License holder: Hard Rock
- Brands and sub-brands: Hard Rock
- Market share: 4.3% (+.1% M/M)
Hard Rock held steady in April but seems to have hit a 5% plateau when it comes to market share.
That could be a sign that Hard Rock has maxed out whatever database it’s been using and will now need to find fresh ways to capture new customers.
Ocean Casino Resort is an also-ran
- License holder: Ocean Casino Resort
- Brands and sub-brands: Ocean Resort
- Market share: 0.8% (-0.5% M/M)
Last month I said “Ocean Casino Resort is becoming an also-ran,” in the NJ online gambling market.
With its market share falling below 1% in April, I’m going to amend last month’s statement, and officially dub Ocean Casino an also-ran.
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.