The New Jersey Division of Gaming Enforcement released the gambling figures for June 2020 on Tuesday. Sadly, for the third month in a row, there were zeros in the casino-win column.
While online casinos didn’t continue their record-setting ways, they did come close to matching last month’s figure of $85.9 million. When normalized for the extra day in May, June’s earnings come in at 2.1% over May and 123.1% above June 2019.
Let’s take a closer look at the latest New Jersey online casino revenue report.
NJ online casino highlights
It comes as no surprise that Golden Nugget remains the king of the hill. In fact, it is so far up the hill that it is hard to imagine a new king anytime soon.
Golden Nugget earned $29.1 million for June and came in just slightly above last month’s record of $29 million. When normalized for the extra day, it represents a 3.3% increase for the month and a 114.4% increase year over year.
Coming into June, Golden Nugget had given up small percentages of market share for four straight months. That stopped in June when the online casino took a small bit (0.5%) of it back.
Other June online casino revenue highlights include:
- Three casinos posted new online casino revenue records this month. Borgata ($16.9 million) and Hard Rock ($5.8 million) join Golden Nugget on the podium.
- For the second month in a row, Hard Rock posted the largest month-over-month increase (10.4%). It is the only double-digit, month-over-month percentage increase posted.
- Surprisingly, it was not all good news like it has been in recent months. Caesars (-3.3%) and Tropicana (-6.7%) posted monthly declines.
- NJ online poker continues to lose the momentum it gained during the first few months after AC casinos closed. Every online poker room posted a decline in May, with total poker revenue down 19% compared to last month. Look for a big July at WSOP.com as it hosts the WSOP online tournament series, awarding online bracelets to US players throughout the month.
NJ online casinos, by the numbers
Revenue / ∆ Monthly (Normalized) / ∆ Yearly (Normalized):
- Online casinos: $81.3 million / +3.3% / +124.2%
- Online poker: $3.5 million / -19.1% / +99.8%
- Total online casino revenue: $84.9 million / +2.1% / +123.1%
|Operator||Poker Revenue||Casino Revenue||Total Gaming Win||Taxes Paid|
|Borgata / Party / BetMGM||$914,503||$15,982,826||$16,897,329||$2,543,881|
|Caesars / Harrah's / 888||$1,389,203||$7,401,273||$8,790,476||$1,322,177|
|Golden Nugget / Betfair / BetAmerica / SugarHouse||$-||$29,149,825||$29,149,825||$4,372,831|
|Hard Rock / Unibet / Bet365||$-||$5,784,154||$5,784,154||$867,623|
|Ocean Casino / Parx Casino||$-||$1,046,253||$1,046,253||$156,945|
|Resorts AC / DraftKings / PokerStars||$1,233,371||$15,963,179||$17,196,550||$2,579,483|
|Tropicana / Virgin||$-||$6,048,560||$6,048,560||$907,284|
NJ online casino market share
This month, a market share percentage equates to almost $850,000. Three casinos gained around 0.5%, three casinos lost and one remained flat.
While revenue is the number most look at to determine a successful month, the market share is a better indicator of a casino’s growth.
This month’s winning casinos include:
- Golden Nugget (34.3%, up from 33.8%)
- Borgata (19.9%, up from 19.4%)
- Hard Rock (6.8%, up from 6.3%)
Ocean Casino Resort’s market share remained relatively flat for June at 1.2%.
Casinos losing market share include:
- Resorts (20.2%, down from 20.5%)
- Caesars (10.3%, down from 10.9%)
- Tropicana (7.1%, down from 7.8%)
NJ sports betting
New Jersey online sports betting remained restrained in June due to the lack of most major sporting events. That is slowly starting to change as sports leagues prepare to return to their given field of play.
With casinos in AC closed, all sports betting in NJ happened online.
Betting on NASCAR, the PGA Tour and UFC headlined most weekend betting during the month of June. And a profitable June it was:
- Total NJ sports betting handle: $165 million, up 40.1% month over month
- Total sports betting revenue: $12.6 million, up 31.7% month over month
What to expect now that AC casinos are reopening
July is a month of transition for casino gambling and sports betting in New Jersey.
Casinos are opening, and theoretically, one might conclude that online casino revenue will show a decline in July’s report.
Not so fast.
Casinos might have opened, but they have done so with limited capacity. Plus, people are still staying home as the coronavirus continues to make headlines.
Historically, July posted an increase in online casino revenue each of the last four years.
While online casinos might not make it into record territory, there is a good chance the numbers will be impressive nonetheless.
Online sports betting also stands a good chance of posting impressive numbers, provided sporting events actually return.
The moral of this story is that while it might appear that things are trying to return to normal, we live in anything but normal times.