The New Jersey Division of Gaming Enforcement unveiled the state’s online gaming revenue numbers for February 2015 on Thursday, and for the third consecutive month the industry is moving in the right direction.
For the month of February 2015, the official numbers ($10.4 million in total online gaming revenue) only tell part of the story.
New Jersey online gambling revenue posted a slight year-over-year increase for the month of February ($10.3 million in 2014 to $10.4 million in 2015), and a 10% month-over-month decline that comes with a bold asterisk.
Large jackpots skew the numbers
The reason for the sizable MoM decline can be explained away quite easily: A player at BetfairCasino.com hit a $1.5 million jackpot playing Let It Ride.
These jackpots are the price of doing business for online casinos, but they dramatically skew the revenue figures for an individual month and don’t paint an accurate picture of the health of the industry, which is why they should be disregarded when examining any singular month.
Therefore, if we add the $1.5 million jackpot to the current $10.4 million revenue tally, February 2015 was New Jersey’s best iGaming month to date.
When we disregard the jackpot, New Jersey online gaming operators generated $11.9 million in total online gaming revenue, accounting for a nearly 15% year-over-year increase, and a MoM increase of nearly 3%.
The $11.9 million would have also eclipsed the previous high water mark of $11.87 million posted in March of 2014 – a record that would be all the more impressive considering February has just 28 days and March has 31.
- Average daily win from March 2014: $38,000
- Average daily win from February 2015: (not including $1.5 million jackpot): $42,500
Debut of Resorts Online Casino
February was also the debut of Resorts Casino’s online gaming site to the NJ DGE revenue reports. The upstart room, powered by Sportech-NYX Gaming generated just over $50,000 in revenue after launching in late February, despite operating for roughly one week.
iGaming revenue numbers by operator for February 2015:
- Borgata – $3.73 million
- Tropicana – $2.62 million
- Caesars – $2.52 million
- Golden Nugget – $1.46 million (this includes the $1.5 million jackpot payout)
- Resorts – $50,909
Borgata still NJ online poker revenue king
Interestingly, despite the pooling of players across a number of games and tournaments that began in mid-January, Caesars’ two online poker rooms, WSOP.com and US.888Poker.com, were unable to overtake the tandem of partypoker and Borgata when it came to online poker revenue.
According to PokerScout.com, average cash game traffic at Caesars online poker rooms is 200 players, while average cash game at Borgata’s online poker rooms is just 160 players. Yet Borgata is still generating 15% more revenue than Caesars from its online poker tables:
- Borgata (partypoker/Borgata) – $1.10 million
- Caesars (WSOP.com/888) – $942K
There are a couple of potential reasons for this:
- Borgata’s tournament traffic is stronger;
- and/or Borgata players have a higher average spend.
This is certainly something to keep an eye on.
New Jersey online casino
The battle for the top spot in terms of New Jersey online casino revenue remains a tight three-horse race between Borgata (partycasino and Borgata Casino), Golden Nugget (Golden Nugget Casino and Betfair Casino), and Tropicana (Tropicana Casino and Virgin Casino).
|Casino||Jan 2015 iCasino revenue||2015 iCasino revenue|
|Borgata||$2.50 million||$2.63 million|
|Tropicana||$2.56 million||$2.62 million|
|Golden Nugget||$2.46 million||$1.46 million ($2.96 million)|
Historical revenue trend
Here is a look at New Jersey iGaming revenue historically:
And here is a look at New Jersey iGaming revenue adjusted for the two seven-figure jackpots that have been paid out (noted in red), one in June 2014 ($1.3 million) and one in February 2015 ($1.5 million):