It’s increasingly difficult to find previously unused superlatives to describe the successes of the New Jersey online casino market.
June wasn’t a record-setting month on the revenue side (it was close), but it was a record-setting month in terms of year-over-year growth, so a new superlative is needed. That superlative is “unfathomable.”
New Jersey’s online casinos saw unfathomable growth for a six-year-old industry: 68%.
NJ casinos tallied $38 million in online casino and online poker revenue in June. Online sports betting had a down month (not uncommon for June) but still added another $6.9 million, bringing the industry’s total online revenue tally to $45 million.
Here are the topline numbers from the New Jersey Division of Gaming Enforcement’s latest monthly revenue reports.
Revenue by online vertical, June 2019:
- Casino revenue: $36,288,066
- Poker revenue: $1,770,178
- Sports betting revenue: $6,938,369
Revenue totals, June 2019:
- Total online gambling revenue: $38,058,244
- Total online gambling revenue w/sports: $44,996,613
NJ online casinos still hit all the high notes
I might sound like a broken record, but the state’s impressive Y/Y growth simply cannot be ignored. The last six months include the five highest months of Y/Y growth in the industry’s history.
The only logical explanation is the insertion of NJ online sports betting into the equation last year. Online casino growth has been a runaway train since online sports betting came into being.
Here’s a look at the Y/Y changes:
- Online poker: +.70%
- Online casino: +73.41%
- Total revenue: +67.78%
As seen in the chart below, the New Jersey 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 could soon be the #1 contender
License holder: Borgata
Market share: 15.9% (+.4% M/M)
Borgata is on its way back.
After falling to a distant third place behind Golden Nugget and Resorts, the former number one online casino in the market has seen a resurgence in recent months. In June, Borgata broke $6 million for the first time ever, and it’s now nipping on Resorts’ heels for the number two spot.
Golden Nugget still on top
License holder: Golden Nugget
Market share: 35.7% (-1% M/M)
Golden Nugget continues to be the clear market leader in New Jersey. The casino posted a $13.6 million month in June and continues to close in on its land-based revenue — $15.8 million in June.
Tropicana stuck in neutral
License holder: Tropicana
Brands and sub-brands: Tropicana, Virgin
Market share: 9.9% (-.3% M/M)
After a strong first couple of years, Tropicana has been unable to keep up with its competitors in the New Jersey online casino market.
Online revenue has been relatively flat for a couple of years, which isn’t a surprise considering Tropicana’s seemingly laissez-faire attitude toward online gambling.
Resorts stalls out
License holder: Resorts AC
Market share: 18.2% (-2.6% M/M)
Resorts received a serious shot in the arm when online sports betting became a reality in the Garden State. However, after an initial flurry, online casino revenue seems to have peaked.
Caesars a potential sleeping giant
License holder: Caesars
Market share: 13% (+1.3% M/M)
Caesars has been slowly gaining ground in the market. The company’s online gambling products could get a further boost if the proposed merger with Eldorado becomes a reality.
Reason being, Eldorado possesses a superior sports betting product/partnerships. If it’s deployed in New Jersey through Caesars, it could create new cross-selling opportunities for Caesars online casinos.
Hard Rock blasts forward
License holder: Hard Rock
Brands and sub-brands: Hard Rock, Unibet NJ
Market share: 6.4% (+2.4% M/M)
The addition of Unibet seems to be paying early dividends for Hard Rock AC. Its online market share rose by nearly 40% in June, and the only major change was the launch of Unibet online casino.
Ocean Casino Resort continues to slide
License holder: Ocean Casino Resort
Brands and sub-brands: Ocean Online
Market share: .9% (-.3% M/M)
Ocean Casino is being threatened by erosion. And it’s not beach erosion. Rather it’s eroding online casino revenue, as Ocean’s market share fell back below 1% in June. At its peak, the casino held 2.7% of the online market.
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.