Any way you slice it, October was a stellar month for New Jersey’s online gambling operators.
The industry will turn five Nov. 21, making the October numbers reported by the NJ Division of Gaming Enforcement something of an early birthday present, as several records fell by the wayside.
- Total online gambling revenue (casino and poker) reached new heights at $26.8 million — NJ online sports betting added another $8.8 million to that tally.
- NJ online casino revenue topped $25 million for the first time.
- Golden Nugget raised the bar for individual operators, tallying $9.7 million for the month.
With two months to go, NJ’s online gambling industry is now a lock to eclipse the $1 billion in lifetime revenue before the calendar flips to 2019. The current tally sits at $965 million.
Top line numbers
Here are the top line numbers from the DGE’s latest monthly revenue reports.
Revenue by vertical:
- October 2018 online casino revenue: $25,100,132
- October 2018 online poker revenue: $1,653,746
- October 2018 online sports betting revenue: $8,839,162
- October 2018 total online gambling revenue: $26,753,878
- October 2018 total online gambling revenue w/sports: $35,593,040
Online casino key takeaway
Double-digit growth is the norm for NJ online casinos, but October was the best month for online casino revenue in quite some time, with revenue up 34.7 percent year-over-year.
One possible explanation for the increased growth is cross-selling between online sportsbooks and their affiliated online casinos.
Online poker key takeaway
Online poker continues to be the little engine that couldn’t.
Revenue was down nearly 15 percent year-over-year, as the vertical’s decline continues.
Online sports betting key takeaway
Online sports betting is going to be a very high variance vertical.
The handle was up month-over-month, but revenue fell by 30 percent.
Because of its high variance, we’re treating online sports betting as a separate entity, and it won’t be included in the analysis below.
Growth trends in NJ online gambling
Here’s a look at the year-over-year changes:
- Online poker: -14.5 percent
- Online casino: +34.7 percent
- Total revenue: +30.08 percent
As seen in the chart below, the NJ online gaming industry has yet to experience a year-over-year decline in any month (this chart doesn’t include sports betting revenue).
Casino by casino analysis
Borgata is still second-best in NJ
With monthly revenue consistently in the $4 million to $5 million range, Borgata is the No. 2 operator in the market, but its revenue is less than half of industry leader Golden Nugget.
Golden Nugget showing no signs of slowing down
Golden Nugget is fast approaching the $10 million mark in monthly revenue. To put that in perspective, none of its competitors have managed to put together a $5 million month.
Tropicana making changes
Tropicana had a strong October, with year-over-year revenues up 7 percent.
Resorts crushing online sports revenue
Resorts online casino revenue rose by 5.7 percent in October, but an 18 percent decline in online poker revenue led to a break-even month.
Caesars on the move
Caesars was the second-biggest gainer in October, as online revenues rose by more than 18 percent.
Hard Rock gaining market share
- License holder: Hard Rock
- Brands and sub-brands: Hard Rock
Hard Rock has arrived.
The new entry broke the million-dollar-mark in October (Hard Rock online casino launched at the end of June), and looks poised to be a serious player in the market going forward.
Ocean Resort posts a revenue decline
- License holder: Ocean Resort Casino
- Brands and sub-brands: Ocean Resort
With revenues at just less than $600,000, Ocean Resort, the other new online casino, isn’t faring as well as Hard Rock.
A 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.