New Jersey iGaming Industry Revenue Surges
Nearly two months to the day after NJ Governor Phil Murphy ordered all casinos in Atlantic City close their doors, the New Jersey iGaming industry reports record-high revenue.
According to the latest monthly revenue figures released on May 13 by the New Jersey Division of Gaming Enforcement (NJDGE), the state’s iGaming industry won nearly $80 million during April. The exact total of $79,959,826 in revenue last month represents a huge 23.35 percent increase over the $64,821,903 won in March.
And when assessed from a year-on-year perspective, April 2020’s iGaming revenue – a category which includes casino and poker games, but not sports betting – skyrocketed by 118.57 percent when compared to April 2019 ($36,582,934).
Naturally, the explanation for this astronomical growth lies in the fact that local gamblers have no land-based options available to them at the moment.
To wit, when compared to February of 2020 – the last full month of operation for Atlantic City’s casino industry after Murphy issued his order on March 16 – iGaming revenue jumped by nearly $30 million to $51,987,768, good for a 53.80 percent surge.
Golden Nugget Group Continues to Dominate New Jersey iGaming
As it has for 41 consecutive months, a span stretching back to November of 2016, Golden Nugget led the way in terms of individual operator licensing groups.
Golden Nugget’s various iGaming licensees – a group which includes GoldenNuggetCasino.com, BetfairCasino.com, and PlaySugarHouse.com – combined to haul in $27,642,909.
They did so without benefit of an online / mobile poker component, relying on the strength of Golden Nugget’s industry leading Live Dealer vertical provided by Evolution Gaming.
But even with a poker site in its corner, the second-place Resorts Casino licensing group – consisting of DraftKings.com, ResortsCasino.com, MoheganSunCasino.com, and PokerStarsNJ.com – could only muster $16,119,036 in April revenue.
Of that amount, casino games did the heavy lifting with $14,052,743 in win compared to $2,066,293 for PokerStars’ first legal U.S.-facing client.
The Golden Nugget and Resorts Casino groups each enjoyed major upticks from March to April, climbing from $23,301,487 (+18.63 percent) and $13,509,903 (+19.31 percent), respectively.
Ranking in third place overall was the Borgata licensing group, the largest in New Jersey in terms of operators with both casino and poker clients for Borgata, PartyPoker, BetMGM, and Pala.
All told, the Borgata group’s 10 individual iGaming sites combined to win $15,868,461 – up 29.84 percent month-on-month from $12,221,924 in March.
None of the four remaining New Jersey iGaming license alliances managed to top the $9 million plateau.
The Caesars group – covering CaesarsCasino.com, HarrahsCasino.com, WSOP.com, 888Casino.com, and 888Poker.com – came closest with $8,727,772 in combined revenue.
Casino Remains King, but Poker Vertical Experiencing a Renaissance
As usual, the casino vertical carried the day with $74,811,453 in total revenue to just $5,148,373 for poker.
But based on the rate of growth, online / mobile poker has never been more popular in New Jersey.
Poker revenue shot up by 41.86 percent based on March revenue of $3,629,112, easily setting a new record in the process. When assessed year-on-year, this April’s numbers more than tripled from $1,667,977 (+208.66 percent) in April of last year.
In fact, when the three-month period from December of 2019 to February of 2020 is added together, its combined poker revenue of $5,363,829 only barely beats April’s record-setting win rate.
Last month’s numbers were bolstered by a pair of major online / mobile tournament draws.
PokerStarsNJ.com held its fifth annual NJSCOOP series with $1.2 million in guaranteed prize pools, while rival WSOP.com held its first Online Super Circuit Series to replace its usual live WSOP-Circuit schedule.