Categories: Online Gambling News

Summer Starts With Record-Setting Online Casino Growth In New Jersey

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.

Topline numbers

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.

Growth trends

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

Brands and sub-brands: Borgata, Party, Pala, playMGM

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.

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Golden Nugget still on top

License holder: Golden Nugget

Brands and sub-brands: Golden Nugget, Betfair, SugarHouse, BetAmerica

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

Brands and sub-brands: Resorts, Mohegan Sun, PokerStars NJ, DraftKings casino

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

Brands and sub-brands: 888, Caesars, Harrah’s, WSOP

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.

Steve Ruddock @SteveRuddock

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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