NJ Online Casinos Reach A New Revenue Record In July With $25.9 Million

NJ online casino revenue

New casinos and NJ sports betting are gobbling up the headlines, but the real story is the continued growth of the state’s online gambling industry.

On the online gambling front, July 2018 was the industry’s best month to date. Total NJ online casino revenue was up more than 25 percent year-over-year, falling just shy of $26 million.

Remarkably, the record was set despite online poker revenue falling nearly 8 percent.

Top line numbers

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

  • July 2018 online casino revenue: $24,048,964
  • July 2018 online poker revenue: $1,848,553
  • July 2018 total online gaming revenue: $25,897,517
  • Year to date online gambling revenue: $165,437,668

Online casino continues to chug along

Online poker’s woes continued in July. The vertical continues to struggle in New Jersey, despite the interstate agreement that linked New Jersey, Delaware, and Nevada. The interstate pooling has had no discernible impact, as online poker continues to be a problem without a solution for NJ operators.

On the other side of the coin, online casino continues to carry the industry, as it extended its multi-year streak of double-digit growth in July.

  • Online poker: -7.95 percent
  • Online casino: +29.45 percent
  • Total revenue: +25.80 percent

A chaotic NJ gaming market

New Jersey’s gaming industry has undergone some significant changes in the past few months. July marked the first full month since the openings of Hard Rock Atlantic City and Ocean Resort Casino, as well as the first full month of sports betting revenue.

With the help of online gambling, as well as the revenue from NJ sports betting (nearly $4 million in July), the state’s gaming industry posted its first $300 million July since 2010.

Get ready for online sports betting revenue

There’s a good chance next month could be another record-setter for online gambling, thanks to online sports betting.

DraftKings launched an online sportsbook in early August (through its partner Resorts) and that should add some significant revenue to next month’s online gaming totals.

Growth trends

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

Casino by casino analysis

Borgata is the clear-cut number two in NJ

  • License holder: Borgata
  • Brands and sub-brands: Borgata, Party, Pala, MGM

Borgata was tops in the industry for the first few years of New Jersey online gaming before ceding the top spot to Golden Nugget and falling into the tightly bunched trail pack.

Borgata’s grip on the number two spot seemed tenuous for a while, but it’s recently established itself as the clear number two operator in the market.

With July online gambling revenue of $4.93 million, Borgata nearly became the second online gaming operator to eclipse the $5 million mark.

Golden Nugget sets another record

Golden Nugget eclipsed yet another revenue milestone in July. It can now lay claim to being the first and only operator to eclipse $5 million in monthly revenue, the first to $6 million, to $7 million, to $8 million, and now to $9 million.

Golden Nugget continues to be the runaway leader in the market (lapping the entire field when it comes to online casino revenue), boasting a 36 percent market share.

Tropicana is stuck in place

Tropicana continues to be the most steady performer in the market, but in a growing market, that’s not necessarily a good thing. Outside of the two new casinos, Tropicana’s $3.3 million July revenue puts it in last place.

Resorts flirts with $4 million

Resorts bounced back from a down June with a near $4 million July.

As the only license holder with an operational online sportsbook in the market (DraftKings Sportsbook), the company is going to get a big boost next month.

Caesars has a good but not great month

Caesars had a good but not great July. Total online revenue of $3.8 million was an 18 percent Y/Y increase, but in an up month, Caesars was still looking up at Golden Nugget, Borgata, and Resorts.

Hard Rock has a full month under its belt

Hard Rock’s first full month produced $330k in NJ online casino revenue.

Ocean Resort Casino enters the fray

  • License holder: Ocean Resort Casino
  • Brands and sub-brands: Ocean Resort

Ocean Resort Casino launched its online casino in early July. Despite an abbreviated month, ORC tallied a respectable $250k in online casino revenue.

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.

Read Now: Guides To Best NJ Online Casino Values

Steve Ruddock

About

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.