New Jersey Continues to See Success with Online Gaming
Online gaming continues to do well in the state of New Jersey, with October producing a new record for annual revenues.
Online casino and poker revenue numbers are in for New Jersey, with the state continuing to do quite well in the realm of online gambling. The 2017 has set a record, with two months of revenue reporting still left to go. Online gambling for the state has already generated over $200 million in revenues for the first ten months of 2017. This is the best year yet for the industry in the United States with two months still yet to come. The casinos should earn close to $250 million by year’s end depending on how much revenue is produced in November and December.
The Golden Nugget continues to lead the industry as it claims the number one sport in revenue earnings for October. While casino gaming did well as always, poker is still struggling. The poker revenues were actually down when looking at the numbers from October of last year.
Overall, New Jersey online gaming was able to bring in $20.6 million in October. This was a slight decrease from last month but a 23.4% increase when comparing year over year totals. For online casino numbers, $18.6 million was earned which is more than 30% than last October. Poker brought in only $1.9 million, which is just over 19% less than last year.
Looking at the individual operators in the state, we can see how well each company has fared for the month. The Golden Nugget was able to hold on to the number one spot as the top operator with more than $6 million earned for the month. This is the third time this year that the company has been able to earn more than $6 million with iGaming. The earnings for October are actually close to $2 million more than second place Borgata.
Speaking of the Borgata, they are in the second spot when it comes to earnings for October. Borgata earned $4.2 million in revenue, which is slightly lower than last month. However, it is still enough to keep the company in the second spot of earnings. For online casino earnings, the company saw an increase of 21% when compared to October 2016.
Resorts AC, which includes PokerStars NJ, saw an increase in poker earnings when compared to September totals but was down 23% when looking at numbers from last October. The NJ Championship of Online Poker ran for a second time at PokerStars NJ during the month, but it was not enough to help the company see a year-over-year increase with poker gaming.
For the Tropicana, the company still sits at the bottom of the earnings list. The company earned close to $3.4 million which is an 11% increase in year-over-year totals but lower than the average month when considering better performing operators.
Caesars still holds the very last position when it comes to online gaming revenue totals. They earned only $3.3 million combined. For poker, the WSOP/888 did not provide a tournament series and the lack of options showed in the poker numbers for the brand.
Overall, the online gaming industry in New Jersey is booming and not showing any signs of slowing down. It will be interesting to see how November and December fare, if the state will be able to reach the $250 million mark, or even go further. We shall report figures as they are released and look forward to seeing the state continue to do well with both casino and poker gaming offered online.