According to the most recent revenue reports released by the New Jersey Division of Gaming Enforcement, the New Jersey online gambling industry is still going strong in 2015. The iGaming numbers for May 2015, and over the past six months in general, bode very well for the industry’s health and continued growth.
Despite a near $400k progressive slot jackpot hit at TropicanaCasino.com, New Jersey’s online gambling industry tallied $12.5 million in gross gaming revenue in May, a year-over-year increase of nearly 20% from May of 2014.
May 2015 also marked the third consecutive month – and just the third month overall – that the industry tallied over $12 million of revenue in a 30 day period.
Perhaps most importantly, for the second straight month New Jersey’s online gambling operators managed to avoid the seasonal drop-off the industry experienced last year, a decrease that the iGaming industry experiences on a global level and one many analysts expected to rear its head again in 2015.
So far, the seasonal lull has steered clear of New Jersey.
2015 revenue trouncing 2014
As the chart below shows (click to enlarge), revenue held fairly steady from April to May, and the year-over-year gains the industry is experiencing are looking less like anomalies and more like a legitimate trend line.
After generating a total of $123 million in gross gaming revenue during 2014, New Jersey is on pace to post $146 million in online gambling revenue in 2015 – an increase of nearly 15%.
- YTD (January – May) 2014: $53.52 million
- YTD (January – May) 2015: $60.31 million
However, if we account for the $1.5 million jackpot hit in February of 2015, the industry is on pace for $150 million in GGR this year, a YoY increase of 18% over 2014.
[Speculation alert] Considering the current trend line, I expect the revenue numbers for 2014 and 2015 to continue to move away from one another, and New Jersey to post a 20% YoY increase.
How did the individual operators do?
Borgata holds steady
Month over month Borgata’s online gambling brands barely moved:
- Borgata iCasino revenue April 2015: $2.865 million
- Borgata iCasino revenue May 2015: $2.863 million
- Borgata iPoker revenue April 2015: $1.126 million
- Borgata iPoker revenue May 2015: $1.096 million
Holding steady has been good enough for Borgata, as they continue to lead the industry in iPoker revenue, and landed in the number two spot for iCasino revenue.
Golden Nugget maintains iCasino lead
Despite a nearly 10% month-over-month decline, Golden Nugget, for the second consecutive month, surpassed $3 million in online casino revenue.
On this front Golden Nugget (which includes BetfairCasino.com) continues to be the industry leader, although, without an online poker product, Golden Nugget trails Borgata in overall revenue.
Tropicana’s slide continues… with a caveat
After topping the $3 million mark in March, Tropicana’s online casino dipped back down to $2.7 million in April, and the casino saw revenue fall even farther in May, dipping down to $2.5 million.
However, as noted above, Tropicana paid out a $400,000 progressive slot jackpot in May. Accounting for this jackpot would turn the casino’s $200,000 revenue decrease into a $200,000 revenue increase.
Resorts continues to climb
In its first month online, February, Resorts online casino tallied $50,909.
In March the casino increased revenue threefold, to $154,071. April saw another increase, as Resorts generated $212,739 in GGR.
And for the third straight month the casino has increased its monthly revenue, this time to $324,662. This is a good sign for the late starter, particularly when you consider the casino’s online poker partner, PokerStars, has yet to launch.
Caesars bringing up the rear
Caesars continues to lag behind its competitors when it comes to both online poker and online casino revenue, where (with the exception of Resorts) it ranks last on both counts.
That being said, by offering iPoker and iCasino, Caesars continues to compete with Tropicana and Golden Nugget for the number two spot behind Borgata:
iGaming revenue in May 2015 by operator:
- Borgata: $3,960,118
- Golden Nugget: $3,065,342
- Caesars: $2,623,239
- Tropicana: $2,501,225
- Resorts: $324,622
Historical look at online gambling revenue in NJ
*Red data points indicate adjustments for 7-figure jackpots paid out in that month (a $1.3 million slot jackpot in June 2014 and a $1.5 million table game jackpot in February 2015).
Check our New Jersey iGaming revenue page for a detailed breakdown of online gambling revenue in the Garden State.