New Jersey Lights Up With Nearly $40M In Online Gambling Revenue In September

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Sports betting propelled New Jersey’s online gaming industry to new heights in September. The state’s online casino, online poker, and online sports betting operators generated $38 million collectively, with $12.6 million of that coming from sports betting.

NJ sports betting — the state’s shiny new toy — is grabbing most of the headlines, but don’t sleep on NJ online casinos. September was online casino’s strongest month in its five-year history, and the combination of online casino and poker produced its second best month to date.

Top line numbers

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

Revenue by vertical:

  • September 2018 online casino revenue: $24,142,472
  • September 2018 online poker revenue: $1,609,989
  • September 2018 online sports betting revenue: $12,567,785

Revenue totals:

  • September 2018 total online gambling revenue: $25,752,461
  • September 2018 total online gambling revenue w/sports: $38,320,246

Online casino key takeaway

There is no slowing down the NJ online casino train. Online casino revenue grew by roughly 30 percent in September. Backchannel chatter indicates some of that growth is due to cross-selling from sports betting.

Online poker key takeaway

Online poker is in a prolonged period of decay.

Despite the best efforts of regulators (entering into an interstate agreement with Nevada and Delaware), online casino and online poker revenue continue to diverge.

Online sports betting key takeaway

NJ online sports betting has come out of the gate with its pedal to the metal.

Even though only a handful of operators are operational, online sports bets accounted for more than 50 percent of all NJ sports betting revenue in September.

New Jersey’s online performance should act as a wakeup call for states considering Nevada’s on-property registration model.

Growth trends

Here’s a look at the Y/Y changes:

  • Online poker: -15.36 percent
  • Online casino: +30.57 percent
  • Total revenue: +26.29 percent

As seen in the chart below, the NJ online gambling 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

September was a good but not great month for Borgata.

Golden Nugget showing no signs of slowing down

Golden Nugget had its second-best month to date, as it eclipsed the $9 million mark for the second time. Golden Nugget’s online casino market share is now a staggering 38.5 percent.

Tropicana making changes

Tropicana has been stuck in a rut for quite some time. Despite steady revenue numbers, the new owners (El Dorado) sacked the entire online division in what may be an attempt to reinvent its online presence.

Resorts crushing online sports revenue

Resorts posted typical numbers for online casino, but its dominance of the NJ online sports betting market is Golden Nugget-esque.

Resorts generated $8.5 million of the $12.5 million in online sports betting revenue, the bulk of which by DraftKings Sportsbook.

Caesars falters

August 2017 was one of Caesars’ best months. August 2018, not so much.

Total online casino revenue fell by more than 20 percent Y/Y and almost 7.5 percent month-over-month. Still, Caesars total online gaming revenue was right around $3.5 million for the month.

Hard Rock gaining market share

Hard Rock’s online casino is quickly gobbling up some market share and looks like it will be a serious player in the not too distant future.

Ocean Resort posts a revenue decline

Unlike Hard Rock, Ocean Resort online casino’s revenue fell month-over-month. That’s not a good sign for the fledgling operation.

A historical look at iGaming revenue in NJ

Be sure to check our New Jersey online gambling revenue page for a detailed breakdown of online gambling revenue in the Garden State.

Read Now: Guides To Best NJ Online Casino Values

Steve Ruddock

About

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.