Per the latest monthly revenue report issued by the New Jersey Division of Gaming Enforcement (NJDGE), the state’s online gambling industry began 2017 with a record-setting January.
All told, the five brick and mortar casino entities licensed to operate online gambling ventures generated $18.8 million in revenue last month. That figure represents a 28 percent rate of growth over January of 2016, when New Jersey’s iGaming industry recorded $13.3 million in revenue.
And while the state’s streak of nine consecutive months tallying year-on-year revenue growth of 30 percent or higher came to an end, that near miss still qualifies as a rousing success.
In terms of month-on-month growth, the entire industry experienced a 2.4 percent uptick from its revenue count in December of 2016.
Breaking the numbers down by game type, the online casino segment – which includes virtual slot machines and table games like blackjack and roulette – accounted for $16.5 million. That was good for a 32 percent rate of growth over the same period last year, while online casino revenue expanded by 1.2 percent over December’s mark.
The online poker segment contributed $2.34 million in revenue during January, or 8.7 percent more than the same period last year. But when comparing December of 2016 to January, online poker revenue spiked by 11 percent.
As far as the various licensed operators and their collection of online gambling products were concerned, the Golden Nugget’s licenses (Golden Nugget Casino, Betfair Casino, and Play SugarHouse) topped their competitors with $4,776,218 in combined revenue. That figure nearly matched the group’s record-setting performance in December – despite the Golden Nugget iGaming operation being limited to casino games only.
The group of Caesars Interactive Entertainment licenses (Caesars Casino, Harrah’s Casino, WSOP.com, and 888.com) were second-best with $4,032,263 in total monthly revenue. Of that amount, $3,318,899 was generated by casino play, while poker produced $713,364 more.
New Jersey also has Caesars licensees to thank for its strong online casino performance month-to-month, as its 10.80 percent rate of growth over December represented the only one over 0.51 percent within the industry.
Judging by market share, the Golden Nugget’s trio of licensees have made the greatest gains, while the Borgata’s four licensees (Borgata Casino, Borgata Poker, PartyPoker NJ, and Pala Casino) have slumped badly.
Back in May of 2016, the Golden Nugget group sat in fourth place in a five-horse race, holding only 19 percent of New Jersey’s iGaming industry market share. At that time, Borgata owned 24 percent market share and enjoyed a dominant position within the emerging industry.
When January’s numbers were in the books, however, Golden Nugget had jumped in front with 22 percent market share – while Borgata slipped into second place at 21 percent.
Industry experts point to Golden Nugget’s early adoption of Live Dealer online gaming – wherein players access live streamed footage of human dealers operating genuine casino equipment – as a key driver in the company’s recent iGaming surge.
Conversely, Borgata hitched its proverbial wagon to the poker sector, which has since been cornered by the arrival of PokerStars, the world’s leading online poker room.
Having contributed $2.8 million in tax revenue over January, the regulated iGaming industry which launched back in late 2013 has now contributed $75 million in taxes to New Jersey’s state coffers.