By earning $8 million yet again, the Golden Nugget continues to be the top earner when it comes to online gaming in New Jersey.
The state of New Jersey continues to be the top earner when it comes to online gaming revenues. Each month, the casinos offering online services in the region earn over $22 million. The New Jersey Division of Gaming Enforcement has released the June performance totals, showing a total of $22.7 million earned between online poker and casino operations.
The New Jersey online gaming market continues to show its strength, exceeding the $20 million for the 16th month running when looking at casino and poker online revenues combined. Online casino gaming revenues hit the $20 million mark by itself for the 6th month running and was up a whopping $2.5 million from last June.
As online gambling continues in the state, the market is set to reach $1 billion in total revenues since internet wagering began in 2013. The Golden Nugget continues to dominate the industry, generating over $8 million for four months running.
It seems no one can beat the Golden Nugget, with their nearest competitor being the Borgata, a venue that has brought in around $4 million in monthly earnings. The Golden Nugget has been basically doubling the Borgata’s earnings each month and has earned over $5 million every month going as far back as January 2017.
As far as online poker is concerned, Caesars saw a nice year-over-year gain due to a new liquidity sharing agreement with Delaware and Nevada. However, poker still is lacking when it comes to generating revenues, especially when compared to online casino options.
When looking at overall totals, the state brought in $2.7 million for June. This was a 3.6% decrease from May and a 12.1% increase when compared to June of last year. With online casino revenues, the total amount earned for the month was $20.9 million. This was a decrease from the previous month of 3.4% but an overall increase when looking at June 2017 totals of 13.1%. For online poker gaming, the month saw $1.8 million in revenues which is a 5.9% decrease from month to month but a 1.3% increase year-over-year.
July and Beyond
By the end of the month, the online gaming revenue reports will include data from the Hard Rock Atlantic City and the Ocean Resort Casino as both have launched online gaming sites. The addition of the two sites should help the region to earn even more with their monthly revenues, which will help the state become that much closer to the $1 billion milestone.
Many analysts felt that with two new online casinos, the market of New Jersey may become over crowded. There still seems to be some room, but the additions just add to the long list of sites now on offer. By next month, the new totals should be revealed and we will get to see just how the two new sites affect the market and if any oversaturation is present.
With these totals, New Jersey continues to dominate the online gambling industry in the United States. They certainly have a leg up on their current competition of Nevada and Delaware. Pennsylvania will eventually be a competitor, but the process of getting their online gaming industry is still slow going. The Pennsylvania Gaming Control Board just closed their first round of the application process and nine operators have submitted applications for consideration.
Over the next few months, if operators are approved, the state may soon give New Jersey a run for their money when it comes to online casino and poker gaming.