New Jersey Online Casino Revenue Grows To Another Record-Setting Month

Posted on December 14, 2018

The online gambling revenue record New Jersey set in October didn’t last very long. November was another record-breaking month for the state’s online casinos.

The November numbers reported by the NJ Division of Gaming Enforcement put the online gambling revenue tally at nearly $27 million for the month, with NJ online sports betting chipping in another $14.4 million.

The NJ online gambling industry has already surpassed last year’s revenue total of $245.6 million, and there’s still a month to go in 2018.

Year-to-date, New Jersey’s online gambling operators have tallied $255 million and are now less than $7 million shy of $1 billion in lifetime revenue.

Top line numbers

Here are the top line numbers from the NJ Division of Gaming Enforcement’s latest monthly revenue reports.

Revenue by vertical:

  • November 2018 online casino revenue: $25,382,434
  • November 2018 online poker revenue: $1,561,639
  • November 2018 online sports betting revenue: $14,446,570

Revenue totals:

  • November 2018 total online gambling revenue: $26,944,073
  • November 2018 total online gambling revenue w/sports: $41,390,643

Online casino key takeaway

After reaching the milestone for the first time in October, NJ online casinos topped $25 million in revenue for the second consecutive month in November.

November was also the second consecutive month that saw online casino revenue grow by more than a third — numbers the industry hasn’t seen on a consistent basis since 2016.

Cross-sell from NJ sports betting customers could be behind the sudden surge in growth on the casino side of the ledger.

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Online poker key takeaway

When online poker revenue fell to about $2 million/month (from a high of $3.5 million), there was some speculation that online poker had found its floor.

If $2 million was the floor, online poker is now in Level 4 of the underground parking garage.

Online poker had its worst month in the five-year history of the industry (something PlayNJ has said several times this year), barely eclipsing $1.5 million in revenue for November.

Online sports betting key takeaway

Online sports betting bounced back after a bettor-friendly month in October. Handle eclipsed $330 million, and the books did quite a bit better with revenues nearly doubling.

Note: 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

Here’s a look at the year-over-year changes:

  • Online poker: -13.7 percent
  • Online casino: +35 percent
  • Total revenue: +30.7 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

November was a good month for Borgata with revenues up 12 percent year over year.

Borgata continues to flirt with $5 million in monthly revenue, but it just can’t seem to pull the trigger and ask for a date.

On the other hand, $5 million is a milestone only one other casino has accomplished (many, many times), Golden Nugget.

Golden Nugget is on top of the world

  • License holder: Golden Nugget
  • Brands and sub-brands: Golden Nugget, Betfair, SugarHouse

Golden Nugget saw revenues dip month-over-month (Tropicana was the only other casino that saw revenues dip M/M), but that’s only half the story. Golden Nugget saw online casino revenue rise nearly 50 percent year over year.

The casino continues to be the runaway leader in the NJ online gambling market with revenue of more than $9 million.

Tropicana taking a step back

  • License holder: Tropicana
  • Brands and sub-brands: Tropicana, Virgin

Tropicana bested its total from last November, but once a major player in the market, online gambling is fast becoming an afterthought for the property.

Resorts Casino takes a steady path

Resorts had a relatively flat month. Revenues were up 1 percent year over year and about 2.5 percent month over month.

Caesars continues to move forward

Just as it did in October, Caesars fell just short of a $4 million month in November.

The recent consistency is a good sign for one of the most inconsistent performers in the market.

Hard Rock gaining market share

  • License holder: Hard Rock
  • Brands and sub-brands: Hard Rock

After reaching a million dollars last month (the fastest to do so in the industry’s five-year history), Hard Rock online casino’s revenue grew by nearly 30 percent month over month in November.

Ocean Resort still at the bottom

  • License holder: Ocean Resort Casino
  • Brands and sub-brands: Ocean Resort

The city’s other new casino, Ocean Resort, is also seeing online revenue growth. But it’s not growing as fast, and at $730k for the month, it’s lagging well behind 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.

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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.

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