New Jersey iGaming Shatters Monthly iGaming Revenue Record
The online gambling juggernaut in New Jersey continued its explosive growth last month, with NJ iGaming shattering its monthly revenue record in March.
NJ iGaming Generates Record $39.1 Million
According to the latest revenue report issued by the New Jersey Division of Gaming Enforcement (NJDGE), online casino and poker games generated $39,134,380 in “win” for the state’s seven licensed iGaming operator groups.
That performance eclipsed the previous record of $33,594,391 – set back in January – by more than $5.5 million, good for a staggering 16 percent spike.
Judged on a year-on-year basis, the NJ iGaming market grew by 52.9 percent from the $25,580,210 haul collected last March. In the near-term, March’s record win total grew by 11.3 percent month-on-month from $31,748,726 in February.
After going live in November of 2013, New Jersey’s combined online casino and poker win didn’t cross the $30 million milestone until January of this year. Three months into the year, however, and the $40 million mark is well in sight.
And when the record-setting sports betting win produced by “March Madness” college basketball betting – which hit $31.7 million – is factored in, New Jersey’s complete online wagering industry won over $70 million on the month.
Before the historic March run, NJ iGaming had never reached the $50 million plateau.
Golden Nugget Nearly Doubles Up Competition
The licensing group – consisting of GoldenNuggetCasino.com, BetfairCasino.com, and PlaySugarhouse.com – posted $14.23 million in March revenue. That’s nearly double the $7.86 million production of the group’s closest competitor Resorts AC – which extends its license to ResortsCasino.com, DraftKings.com, MoheganSunCasino.com, PokerStarsNJ.com – as shown in the table below:
March Online Casino Win by Operator
|Operator||Online Casino Win|
|Golden Nugget / Betfair||$14,227,820|
|Borgata / Party||$4,959,092|
|Caesars / Harrah’s / 888||$4,329,137|
|Tropicana / Virgin||$3,727,872|
|Hard Rock AC||$1,630,845|
Golden Nugget became the first licensing group to reach $10 million in monthly revenue back in December of last year. While none of its competitors have come close as of yet, Golden Nugget has hit eight-figures every month since.
The licensing group burst onto the iGaming scene back in August of 2016, when Golden Nugget became the first operator in New Jersey to offer live dealer casino games.
But while the live dealer innovation helped Golden Nugget’s initial ascent, the arrival of legal sports betting in the Garden State is fueling the recent revenue records.
Despite the SugarHouse sportsbook shifting its license to Monmouth Park racetrack, the SugarHouse casino’s revenue still contributes to Golden Nugget’s tally. Similarly, users of the FanDuel sportsbook affiliated with the Meadowlands racetrack can toggle into casino games operated by the Golden Nugget affiliated Betfair.
And thanks to casino crossover from DraftKings – the state’s second-ranking sports betting revenue generator – the Resorts AC group added nearly $2 from February to March.
Still Quiet on the Poker Front
None of the three licensing groups offering poker managed to crack the $1 million mark, and combined their March revenue only totaled $1.9 million:
March Online Poker Win by Operator
|Operator (Platform)||Online Poker Win|
|Caesars / Harrah’s / 888 (WSOP.com)||$806,656|
|Resorts AC (PokerStars.nj)||$613,808|
That figure, while up slightly from last month, represents a 3.9 percent decline year-on-year from last March.
Poker peaked at $3.1 million in October of 2016. Since September of 2017, however, the vertical has remained stagnant between $1.5 million and $1.9 million