New Jersey’s internet gambling industry is literally exploding on a monthly basis.
How else do you explain setting NJ online casino revenue records in back-to-back-to-back months?
And we are not talking small numbers here.
The New Jersey Division of Gaming Enforcement released September’s figures on Tuesday, and the total online win came in at $41,138,257.
It’s just enough to top the previous high from August of $41,101,587. Here is a breakdown by vertical, including where online poker fits in:
NJ online casinos win $41.1 million in September, extending their streak of record-setting months to three in a row. Story TK. pic.twitter.com/l1ARXGLVnh
— OnlinePokerReport (@OPRupdate) October 15, 2019
What a difference a year makes
The real eye-opener, however, comes when comparing the year-over-year performance.
The September 2018 casino and poker win came in at $25,752,461. It adds up to a nearly 60% jump (59.7% to be exact).
Of course, cross-selling opportunities are playing a major role in the equation.
This time last year, there were a total of eight NJ sportsbook apps. And only five of the operators offered customers a shared wallet option between casino and sports.
Fast-forward one year later, and the NJ mobile sports betting market is now at 17 and counting. Almost all of them, including market leaders FanDuel Sportsbook and DraftKings Sportsbook, provide players the opportunity to jump between platforms.
That ease of use goes in the market’s favor on all fronts and for all operators. It is the overarching trend in New Jersey online gambling.
But September shows us that no matter your size or age, you can make a dent in the six-year-old market. Here are three other trends to note from September’s record month:
1. Golden Nugget leads and others follow
It seems no matter what month we are talking about, Golden Nugget Atlantic City continues to set the pace.
In September alone, the license holder set a new all-time high of $15.6 million, shattering its previous record of $14.9 million.
But there are a few other things that stand out about Golden Nugget’s latest online performance:
- The year-over-year percentage increase came in at 68.5%.
- Golden Nugget reported land-based revenue of $16.2 million for September (a decrease of 11.4%).
- Suddenly there is just over a half-million difference ($547,763) separating casino floor revenue from online.
The strength of online gambling once again helped Golden Nugget, Atlantic City’s smallest casino, finish second in September’s total gaming revenue with $32.3 million.
But the big win comes from a combination of four online brands that share a land-based partnership with the Marina District property:
The DGE does not provide a specific breakdown by operator, but obviously all four of Golden Nugget’s partnerships are paying off big time and have been since 2016.
2. Resorts Digital surpasses land-based revenue
Whether or not Golden Nugget’s online numbers surpass the land-based figures remains to be seen. However, if and when it does happen, it will not be the first Atlantic City casino to achieve the milestone.
That honor officially belongs to Resorts AC.
The oldest gambling hall in town closed out September with a casino win of $14.7 million. But in reality, Resorts Digital, the company’s interactive arm, enjoyed its best month to date with total gaming revenue of $19.6 million.
That number is a combination of online casino ($8.9 million) and online sports betting ($10.7 million) revenue.
The combined number represents a 64.6% year-over-year increase. Online casino by itself increased by a whopping 160.3%.
And it seems unlikely that business is going to slow down anytime soon thanks to cross-selling.
For instance, BetStars NJ is now the rebranded Fox Bet NJ app. And the shared wallet is available to use in the PokerStars casino and poker apps.
Plus DraftKings online casino, which is integrated with the No. 2 sports wagering app in the state, continues to generate strong returns.
So being among the smallest or oldest operators in town is not necessarily a bad thing.
3. Ocean Casino upping its online game
On the flip side, one of AC’s larger and newer properties has struggled to establish its footing in the NJ online casino marketplace.
A little more than a year after opening its doors, Ocean Casino Resort remains last among the nine license holders. Ocean online casino reported $517,356 in September revenue.
It’s not one of those numbers that is going to attract much attention.
However, there are a couple of important notes to highlight here:
- The casino remains unavailable to iOS users, which means only Android and desktop users can play.
- Ocean (at least through September) only had one brand operating under its online license.
That being said, even with the limited customer base, Ocean still saw a year-over-over year increase of 59.7%.
While it’s still too early to say how much market share Ocean can grab, it is no longer standing quietly behind the curtains. It has a new online partner as of October. Pennsylvania-based Parx Casino launched its NJ online brand under the Ocean license this month.
More importantly, the Parx NJ app includes a total of 94 games, more than its PA sister site.
And suddenly one of AC’s newer casinos has two online revenue sources.
Will the record streak continue in NJ online gambling?
So clearly, the NJ online casino market is growing at a rapid rate. But is the new standard now $40-million plus in monthly revenue?
It wasn’t all that long ago (as in earlier this year) when $30-million plus seemed like a great month.
And with the Jersey Shore now in its offseason, there are even more reasons for players to gamble from home.