NJ Online Casinos Keep Looking Up, Post 30 Percent Growth In October

Posted on November 16, 2018

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 millionNJ 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

Revenue totals:

  • 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.

100% Up To $1,500 + $10 Free + 200 Free Spins - Limited Time Only!
UP TO $1500 FREE
+ $10 On Sign Up
Golden Nugget Review
  • Free $10 On Sign Up +
  • 100% Up To $1,500 On Deposit
  • Plus 200 Free Spins On Select Games
  • Use Bonus Code: PLAYBONUS

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

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.

Steve Ruddock Avatar
Written by
Steve Ruddock

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.

View all posts by Steve Ruddock
Privacy Policy