New Jersey iGaming Revenue Nearly Sets New Monthly Revenue Record
While the mainstream media headlines are busy trumpeting New Jersey’s astounding sports betting numbers in September, the Garden State’s original online gaming industry is quietly keeping pace.
Per the latest monthly revenue report released by the New Jersey Division of Gaming Enforcement (NJDGE), the online casino and poker verticals combined to generate $25.75 million in internet gaming win.
That figure falls just short of the state’s all-time high of $25.89 million in iGaming revenue posted back in July.
In a press release issued alongside the revenue data NJDGE director David Rebuck cited “continuing improvements” made by New Jersey’s collection of iGaming operators:
“Driven by the explosive growth in sports wagering and continuing improvements in Internet gaming and brick-and-mortar casino win results, the gaming industry produced another month of superb revenue increases.
The revenue results point to a strong finish for New Jersey’s gaming industry in 2018.”
Casino Win Contributes Overwhelming Bulk of September Revenue
Of the $25.75 million earned by iGaming operators in September, $24.14 million was derived from the casino vertical – which consists of table games and slots.
With nearly 94 percent of the combined total, casino clearly dominates New Jersey’s iGaming marketplace.
Judged on a year-on-year basis, the casino vertical grew by 30.9 percent from the $18.49 million revenue mark posted in September of 2017. And when assessed month-on-month, casino revenue grew by 5.0 percent from $22.99 million in August of this year.
As has been the case since the Golden Nugget licensing group launched live dealer gaming in August of 2016, the operator led the pack by a considerable margin:
September Online Casino Win by Operator
|Operator||Online Casino Win|
|Golden Nugget / Betfair||$9,284,127|
|Borgata / Party||$4,163,570|
|Caesars / Harrah’s / 888||$3,488,215|
|Tropicana / Virgin||$3,342,768|
|Hard Rock AC||$648,801|
At $9.28 million in September revenue, the Golden Nugget group topped $9 million for the second time ever – while continuing a streak of seven straight months above $8 million.
September’s numbers were good enough to more than double up Golden Nugget’s nearest competitor, as the Borgata licensing group generated $4.16 million.
Trailing in third place is the Caesars licensing group at $3.49 million, followed by the Tropicana group at $3.34 million.
Poker Win Swoons to Record Lows
Both the Borgata and Caesars licensing groups ostensibly benefit from offering online poker, through their affiliations with PartyPoker and WSOP.com, respectively.
But based on the revenue table below, the poker vertical is lagging far behind its casino counterpart in terms of monthly revenue:
September Online Poker Win by Operator
|Operator (Platform)||Online Poker Win|
|Caesars / Harrah’s / 888 (WSOP.com)||$671,315|
|Resorts AC (PokerStars.nj)||$538,696|
At just $1.60 million, only 6 percent of New Jersey’s monthly iGaming win came from online poker “rake.” That sets a new record low for poker in the state, falling well short of the $1.73 million raked in June of last year.
Judged year-on-year, poker fell from $1.90 million in September of 2017 for a massive 15.4 percent decline. The month-on-month numbers are no better, with poker falling by 13.1 percent from $1.81 million in August.
The biggest year-on-year loser on poker was the Borgata / PartyPoker network, which saw revenue curtailed by 37 percent from September of last year. The PokerStars NJ network maintained by Resorts AC suffered a 24 percent year-on-year dip.
As for the Caesars-affiliated WSOP.com / 888 Poker network, a tri-state player pool sharing agreement helped to produce a year-on-year increase of 19.5 percent.