Borgata Back On Top When It Comes to NJ iGaming Revenues
The online gambling industry of New Jersey has seen a huge increase for November revenue totals, with the Borgata taking the top spot.
New Jersey has proven to be the top state in the US when it comes to online gambling. There are more operators in the state than in Delaware and Nevada with options for both casino gaming as well as poker for real money wagering. The state has seen solid revenue reports throughout the year and for the month of November, the reports show an increase of almost 30% when compared to last year, an amazing feat by the operators of the state!
Online Revenues Soar
For November of this year, the online gaming sites were able to product $17.2 million. This was an increase of almost 30% when compared to the same month last year when the state earned just $13.2 million. The month was also a big earner being just under the record month for 2016, which was July when the state brought in $17.4 million in revenues.
For the year, the state has seen their best revenues yet when it comes to online gaming. It is believed that when the year ends, New Jersey will have brought in almost $200 million. This will be the largest year to date for the state when it comes to revenues produced via online gaming. Taxes will have been generated at almost $30 million, with almost $66 million having been provided by taxes from the industry since 2013.
The online gambling industry has proven to be a top option when it comes to a source of income for the state. Included in the top tax producers are alcohol and cigarettes. We may soon see that online gambling surpasses both categories as the top tax earner for the state.
Online Gambling Results
In total, online casino gaming was up by 34% with $15.1 million in earnings while poker was up just over 6% with $2.1 million in revenues. The leader based on individual operator totals was the Borgata who operates casino and poker gaming in the state. $3.809 million was earned by the brand including $3.2 million from casino games and $622,000 from poker. Surprisingly, this was just $7,000 more than the Golden Nugget produced from their online casino, the site that has been the leader in revenues for the past two months.
Third place went to Caesars Interactive Entertainment which earned $3.36 million, $2.7 million provided by casino gaming. Next up was Resorts Digital Gaming who runs PokerStars with $3.2 million total. The Tropicana runs just an online casino gaming site and was able to earn just under the $3 million mark.
Land Based Gaming Plus Online Results
Land based totals would show how well the seven gaming venues of the state performed for November. In total, the casinos brought in $180.1 million for November, which is actually a decline of just over 5%. However, if you look at the Taj Mahal not being involved then the state actually was up in land based revenues by 1%.
Only two venues had a decline in revenues for November, Caesars and Borgata. Caesars was down just over 12% with $21.3 million in revenues while the Borgata earned just over $60 million which is a loss of less than 1%.
On the up side, was the Golden Nugget, Tropicana, Bally’s, Harrah’s and Resorts. Each saw an increase when compared to last year with the Golden Nugget seeing the highest increase of 11%. Overall, the online gaming totals plus land based revenues saw the state generate $197.3 million for the month of November.