The industry posted its third best month to date, tallying nearly $16.7 million in total online gaming revenue.
More impressive than the industrywide totals was the performance of one operator, Golden Nugget, which set a new industry record for New Jersey online casino revenue. Golden Nugget became the first online casino operator to crack the $4 million mark.
Overall, New Jersey has seen seven consecutive months of 32 percent or greater growth, and seven consecutive months with more than $16 million in revenue.
The industry was up 39 percent year-over-year in October. Individually, online poker was up 36 percent and online casinos were up 39 percent.
- October 2016 online casino revenue: $14.3 million
- October 2016 online poker revenue: $2.4 million
- October 2016 total online gaming revenue: $16.7 million
- Year-to-date online gambling revenue: $161,282,551
Golden Nugget is the first $4 million NJ online casino
The big news of the month was the spike in online casino revenue at Golden Nugget – a spike that was significant enough to propel the casino over the $4 million mark in monthly revenue.
Four million seemed like a stretch earlier this year, but Golden Nugget’s continued innovation and commitment to its online gaming product has paid off. Golden Nugget is the only online operator with live dealer games, and the addition of a Philadelphia-based brand, PlaySugarHouse.com, in September has greatly expanded its overall reach and its New Jersey customer base.
Can New Jersey online gambling hit $200 million?
New Jersey is $38.7 million away from hitting the $200 million mark in CY2016 revenue with two months to go. It will be a difficult number to reach, but it’s not out of the question.
November and December were the two best months in 2015, both in terms of total revenue and year-over-year growth. If history is any indicator, November 2016 revenue should be at or near $18 million and December 2016 revenue at or near $19 million.
If New Jersey online operators can slightly over-perform in November and December, the industry could hit $200 million in online gaming revenue in 2016.
Regardless, the number will likely be close enough that it won’t matter too much.
YoY growth continues
Here is a look at the market’s percentage of YoY changes in 2016:
- January +26%
- February +42%
- March +18%
- April +34%
- May +33%
- June +40%
- July +39%
- August +32%
- September +35%
- October +39%
And this growth in 2016 is merely a continuation of the trend we saw develop in 2015:
- January +18%
- February +9%
- March +10%
- April +10%
- May +19%
- June +23%
- July +24%
- August +16%
- September +15%
- October +22%
- November +51%
- December +31%
How did the individual operators do?
- Borgata: $3,666,749
- Borgata iPoker: $734,152
- Borgata iCasino: $2,932,597
- Caesars: $3,053,649
- Caesars iPoker: $641,929
- Caesars iCasino: $2,411,720
- Tropicana: $3,116,123
- Golden Nugget: $4,088,225
- Resorts: $2,741,142
- Resorts iPoker: $1,013,671
- Resorts iCasino: $1,727,471
Borgata rebounds but still trails Golden Nugget
October saw Borgata bounce back after a somewhat disappointing September (where it ceded the top revenue spot to Golden Nugget).
But Golden Nugget’s October bounce was even higher. Borgata now finds itself in the unenviable position of trying to not only retake the lead, but simply keep the new frontrunner in its line of sight.
Golden Nugget cements hold on top spot
October was the first full month SugarHouse’s New Jersey online casino was operating under the Golden Nugget license, and the Philadelphia casino seems to have provided a nice revenue boost to Golden Nugget.
Four million dollars in online casino revenue seemed like a pipe dream just six months ago, but Golden Nugget has over-performed from the get-go, continually making the impossible seem possible.
With the two best months of the year coming up, it’s likely GN will end 2016 with a $12 million quarter.[show-table name=cta-golden-nugget]
Tropicana has found a groove
Another month and another $3 million in revenue for Tropicana. It continues to be the picture of consistency in the market.
It will be interesting to see if continued growth industrywide causes Tropicana to rise with its competitors, or if it simply stays at the $3 million mark.
Resorts online casino down, but poker up
Judging by the other operators, Resorts was almost certainly impacted by one or more sizable jackpots in October, as a 20 percent month-over-month decline is usually the hallmark of a large jackpot.
The significant drop in online casino revenue was somewhat offset by a solid month from PokerStars, which jumped back over the $1 million mark in October. The sturdy online poker numbers were almost certainly a byproduct of the inaugural NJCOOP the site ran at the end of the month.
Resorts’ online gaming performance since launch:
- February 2015: $50,909
- March 2015: $154,071
- April 2015: $212,739
- May 2015: $324,662
- June 2015: $400,600
- July 2015: $558,316
- August 2015: $735,140
- September 2015: $944,299
- October 2015: $899,184
- November 2015: $1,215,832
- December 2015: $1,288,079
- January 2016: $1,434,295
- February 2016: $1,318,338
- March 2016: $1,878,097
- April 2016: $3,478,108
- May 2016: $2,995,558
- June 2016: $2,703,042
- July 2016: $3,052,298
- August 2016: $2,896,284
- September 2016: $2,911,044
- October 2016: $2,741,142
Caesars had a down month in October, barely cracking the $3 million mark after online casino revenue dropped more than seven percent month-over-month.
Online poker stagnated too; both Borgata and Resorts saw online poker jump by 16 percent and 36 percent, respectively.
Unlike Resorts, Caesars’ iCasino dip doesn’t seem to be jackpot-related.
Historical look at online gambling 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.