The New Jersey online gambling industry has put together a lot of good months during its five-plus years. March 2019 was its best to date.
NJ online casinos set several new online revenue records in March, including:
- Online casino revenue
- Online sports betting revenue
- Total online gambling revenue (casino and poker)
- Total online gambling revenue with sports betting
- Online casino revenue by a single operator
- Most online operators over $5 million
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:
- March 2019 online casino revenue: $37,230,590
- March 2019 online poker revenue: $1,903,790
- March 2019 online sports betting revenue: $24,260,149
- March 2019 total online gambling revenue: $ 39,134,380
- March 2019 total online gambling revenue w/sports: $63,394,529
Sports betting and online casinos go together like peas and carrots
It’s safe to say online casino growth has been reignited by online sports betting.
New Jersey has seen total online gaming revenue (casino and poker) grow by at least 40% in each of the past four months, and growth of at least 50% in two of the past four months.
More evidence of the impact of online sports betting can be seen at the individual operator level.
Golden Nugget (through its sub-brand Betfair) and Resorts Casino have been the biggest gainers during the recent growth spurt. Both just happen to be affiliated with the top two sportsbooks in the market:
- Resorts and DraftKings app
- Golden Nugget and FanDuel/Betfair
To be clear, FanDuel Sportsbook operates under the Meadowlands Racetrack sports betting license, but because Betfair and FanDuel share a wallet (and therefore customers), both Golden Nugget and Meadowlands benefit from the app’s popularity.
Here’s a look at the Y/Y changes:
- Online poker: -3.18%
- Online casino: +57.66%
- Total revenue: +52.99%
As seen in the chart below, the New Jersey online gambling industry has yet to experience a year-over-year decline in any month (this chart doesn’t include NJ sports betting revenue).
Casino by casino analysis
Borgata breaks $5 million but loses market share
- License holder: Borgata
- Brands and sub-brands: Borgata, Party, Pala, playMGM
- Market share: 13.9% (-.3% M/M)
In December 2018, Borgata became the first online casino not named Golden Nugget to post a $5 million month. In March it broke the $5 million mark for just the second time in its history.
But it’s no longer in select company.
Before sports betting, a $5 million month for an online casino was a big deal. Now it’s the baseline of success, considering four of the five established online casino operators accomplished the feat in March.
Golden Nugget is a runaway train
- License holder: Golden Nugget
- Brands and sub-brands: Golden Nugget, Betfair, SugarHouse, BetAmerica
- Market share: 36.4% (+2.7% M/M)
Golden Nugget AC set a new high water mark for the market in March. Even with Resorts more than doubling its revenue since the launch of sports betting, Golden Nugget casino is still nearly lapping Resorts.
Tropicana falls out of the trail pack
The only established online casino operator that didn’t break $5 million in March was Tropicana Atlantic City.
If the NJ online casino market was a marathon, Golden Nugget is way out in front. Resorts is doing its best to keep GN in sight. Caesars and Borgata have created a trail pack, and Tropicana is cramping up and struggling to finish the race.
Resorts jumps over $8 million
- License holder: Resorts AC
- Brands and sub-brands: Resorts, Mohegan Sun, PokerStars NJ, DraftKings casino
- Market share: 21.6% (+.6% M/M)
With its recent surge, Resorts is the clear number two in the market. And like Golden Nugget, Resorts is proving that forming strategic partnerships is imperative.
Caesars posts its best month to date
- License holder: Caesars
- Brands and sub-brands: 888, Caesars, Harrah’s, WSOP
- Market share: 13.9% (+.4% M/M)
Caesars posted its first $5 million month in March, but as noted above, $5 million is no longer the mark of a solid month.
Hard Rock’s growth stalls out
- License holder: Hard Rock
- Brands and sub-brands: Hard Rock
- Market share: 4.2% (-1.2% M/M)
Hard Rock has done a good job of grabbing market share, establishing itself as a serious player in the market in less than a year.
That said, its growth stalled in March, as Hard Rock’s market share fell from more than 5.4% in February to 4.2%.
Ocean Casino Resort is becoming an also-ran
- License holder: Ocean Casino Resort
- Brands and sub-brands: Ocean Online
- Market share: 1.3% (-.2% M/M)
If Ocean Casino Resort doesn’t do something soon, the New Jersey online casino market may be looking at its second failed site and first since 2014.
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.