New Jersey iGaming Sets New Record in October
The New Jersey iGaming industry – which combines regulated casino games and poker played online – established a new monthly revenue record in October by generating $26,753,878 in total win.
The news isn’t all that surprising, as iGaming in the Garden State came within a whisker of breaking the previous plateau – $25.89 million back in July of this year – just last month.
With a full allotment of 31 days to work with, however, October proved to be the best month yet for New Jersey’s legal online gambling industry since it launched five years ago.
And as per usual, the online casino vertical – consisting of slots and table games like blackjack and roulette – accounted for the lion’s share of the record-setting haul.
Standalone Casino Revenue Sets New Jersey iGaming State Record
Of the $26.75 million in combined New Jersey iGaming revenue, the casino vertical generated $25.10 million – good for 93.83 percent of the October total.
That ratio tracks almost identically with recent months, providing a pattern which demonstrates the yawing gap between New Jersey’s casino and poker industries.
Overall, the casino vertical has now eclipsed the $20 million mark for 10 consecutive months. Meanwhile, the poker vertical has languished below $2 million in monthly revenue since August of last year – a streak of 14 straight months.
Assessed in terms of year-on-year growth, casino revenue swelled by more than 37 percent from $18.63 million in October of 2017
Another continuing trend saw the Golden Nugget licensing group – which includes the GoldenNuggetCasino.com, BetfairCasino.com, and PlaySugarhouse.com online casino platforms – demolish every competitor in its way:
October Online Casino Win by Operator
|Operator||Online Casino Win|
|Golden Nugget / Betfair||$9,674,550|
|Borgata / Party||$3,957,688|
|Tropicana / Virgin||$3,705,489|
|Caesars / Harrah’s / 888||$3,302,038|
|Hard Rock AC||$1,016,822|
At $9.67 million in casino revenue alone – the licensing group doesn’t offer a poker platform – Golden Nugget made it eight straight months topping the $8 million mark.
Golden Nugget has been the undisputed market leader in New Jersey iGaming since August of 2016, when it became the first licensing group in the state to offer live dealer games.
The group’s dominance has become so pronounced that Golden Nugget now dwarfs its two closest competitors – Borgata / Party ($3.96 million) and Tropicana / Virgin ($3.71 million) – combined. All told, Golden Nugget outpaced the combined casino revenue of rivals Borgata, Tropicana, Hard Rock Atlantic City ($1.02 million) and Ocean Resort ($595K).
Poker Continues Disturbing Slump Despite Industry’s Wider Success
On the flip side of the New Jersey iGaming monthly revenue coin, the state’s online poker industry continued to slump badly in October.
Three licensing groups combined for just $1.65 million in poker win, led by the Resorts AC / PokerStars.nj union with a hair over $640,000:
October Online Poker Win by Operator
|Operator (Platform)||Online Poker Win|
|Resorts AC (PokerStars.nj)||$640,548|
|Caesars / Harrah’s / 888 (WSOP.com)||$606,116|
The Resorts AC licensing group – spearheaded by its flagship partnership with PokerStars.nj – managed to take the top spot from the Caesars group after the latter led the way last month. Caesars, in partnership with 888 Poker, operates the WSOP.com platform as its poker centerpiece.
The combined poker win of $1.65 million did provide a slight improvement over September’s record-low mark of $1.60 million. Even so, October’s performance fell well behind the previous record-low of $1.73 million raked in June of last year.
When judged year-on-year, October’s poker win fell from $1.93 million in 2017 – a decline of nearly 15 percent.