The NJ online casino industry recently celebrated its 9th anniversary.
When the first NJ online casinos made their synchronized launch in November 2013, the moment set the table for the United States. Pennsylvania, Michigan and West Virginia have since also legalized online casino gambling.
Here in he Garden State, there are now nearly 30 different legal online casinos. More importantly, the industry is and will continue to be a significant Garden State revenue generator. We’re talking more than $5 billion in all-time revenue.
In recognition of NJ online casinos turning 9, here is a look back at some major milestones and what the future holds.
New Jersey’s path to $100-million months
Unlike the early days, monthly NJ online casino revenue results have been hovering well above $100 million for the better part of the last two years. This includes setting an all-time monthly record of $147.2 million in October. However, it’s not a North American record. That honor belongs to the Keystone State which reported $151.7 million for October.
Know what the monthly revenue was in December 2013 – the industry’s first full month?
A whole $7.4 million. Granted, there are a lot more operators today, and many major events have changed the market landscape.
Online casino market catalysts
One is the 2018 launch of NJ online sports betting. Players being able to access a shared wallet and take advantage of cross-selling opportunities between sports, casino and poker is a win-win.
The second was more unexpected. That would be Atlantic City casinos shutting down for 100-plus days as the result of a global pandemic. With NJ online casinos being the only gambling option for several months, the industry took off.
In April 2020, the first full month retail casinos were closed, monthly revenue came in a touch under $80 million. The previous month’s total was $64.8 million. Today, those numbers are considered small potatoes.
The first $100-million month came in January 2021 ($103.8 million). And since that milestone moment, monthly NJ online casino revenue has fallen short of $100 just once, in February 2021 ($93.8 million).
Top 10 NJ online casino monthly performances
Today, we tend to use the phrase “another monthly record” on a fairly regular basis. With that in mind here is a look at the top 1o NJ online casino revenue performances of all time, starting with the most recent record.
You’ll notice nine out of the top 10 months have come this year. November’s revenue report will be released mid-December.
| Month/Year | Total (in millions) |
|---|---|
| October 2022 | $147.2 |
| March 2022 | $140.6 |
| January 2022 | $137.8 |
| April 2022 | $136.9 |
| July 2022 | $136.7 |
| May 2022 | $136 |
| September 2022 | $135.2 |
| December 2021 | $133.2 |
| June 2022 | $133.1 |
| August 2022 | $131.4 |
The $1B NJ online casino club
If we look at the bigger all-time revenue picture, the conversation changes from millions to billions. New Jersey’s grand total exceeding the $5-billion mark since its launch can partially be credited to the strength of the Borgata Hotel Casino & Spa, Golden Nugget and Resorts Digital licenses. All three have earned over $1 billion in lifetime revenue.
Even though NJ regulators do not break down the results by operator, it’s no secret which brands are responsible for these strong results.
Borgata is sitting in the No. 1 spot thanks to its namesake brand and BetMGM online casino.
Golden Nugget online casino (the first in North America to offer live dealer games), which has been since December 2013, is a big reason why GN’s online revenue continues to top land-based results on a monthly basis. And we’re talking about by an extremely large margin. Through October, the Marina District property has earned $356.2 million year to date versus $126.6 million casino floor earnings.
Resorts has five skins under its license, including DraftKings Casino, Barstool online casino and PokerStars.
Here is a closer look at the all-time results through September 2022. The chart also shows how the Garden State is rapidly approaching $1 billion in all-time tax revenue.
| Licensee | Total Revenue | Slots & Tables | Poker | Taxes |
|---|---|---|---|---|
| Bally's Atlantic City | $207,458,442 | $207,458,442 | $0 | $31,125,768 |
| Borgata | $2,325,819,507 | $2,222,202,326 | $102,659,806 | $349,517,491 |
| Caesars Atlantic City | $682,557,860 | $574,189,786 | $108,466,108 | $102,115,584 |
| Golden Nugget Atlantic City | $2,586,569,570 | $2,585,990,440 | $124 | $386,561,334 |
| Hard Rock Atlantic City | $401,684,465 | $401,684,465 | $0 | $60,160,834 |
| Harrah's Atlantic City | $10,957,403 | $10,957,403 | $0 | $1,643,611 |
| Ocean | $172,597,526 | $172,110,630 | $0 | $25,918,008 |
| Resorts Atlantic City | $2,071,920,631 | $1,990,070,650 | $80,296,517 | $309,594,923 |
| Tropicana Atlantic City1 | $696,227,679 | $691,395,437 | $4,832,242 | $104,404,969 |
| Trump Taj Mahal | $6,032,943 | $5,470,434 | $562,509 | $916,330 |
| Total | $9,157,284,868 | $8,862,788,758 | $339,185,570 | $1,357,020,682 |
Will NJ soon see a $150 million revenue month?
Figuring out what the monthly ceiling is for this NJ gambling industry has turned into a giant guessing game. One could say it seems to be in the $135-$140 million range based on there only being two months that have exceeded the latter.
Then again, $147.2 million suddenly makes the $150-million milestone well within reach. Now that Bally’s Atlantic City and Ocean Casino Resort are upping their respective online games, those two license holders have the potential to see significant revenue increases over the next year.
Then you have Caesars Entertainment who has several market access deals lined up with new brands trying to enter the Garden State market.
Looking at the bigger picture, reporting the first $150-million month is looking extremely realistic.
