NJ Online Casinos Report Massive YOY Growth for August
For August, online casinos in New Jersey were able to see close to 40% in growth year-over-year, creating the second-best month ever for online gaming operators of the state.
New Jersey continues to reign supreme when it comes to the online gaming industry. While Delaware and Nevada are earning solid revenues, New Jersey has easily taken the lead, earning the most revenues and seeing the most growth overall. The industry has continued to do well in NJ and the most recent numbers prove that operators in the state know what they are doing when it comes to online gaming. For August, recent revenue reports show that online casinos in the state earned close to 40% more when August of 2016. Last month was the second best month online gaming operators have seen since the industry was first created.
Quality Online Gaming Earnings
For the month of August, online gaming overall was able to surpass the $20 million mark in revenue earnings. This the sixth month in a row that New Jersey has seen revenues exceed this marker. The New Jersey Division of Gaming Enforcement revealed that online casino revenues came in at $19,196,519 with online poker reaching $2,082,360. In total, online gaming revenues in the state came to $21,278,879. Year to date, New Jersey has already surpassed $163 million in revenue earnings.
Online casino gaming continues to see improvements but for poker, the online revenues seem to be stuck at the $2 million mark. When considering August online poker totals, this year, the state was able to see a decrease of 4.9%. While poker was down, online casino gaming soared. Totals were in at just over 38% which is a remarkable increase considering there are so many operators offering casino games online currently.
The Golden Nugget continues to hold the market share, with Betfair and SugarHouse being sub-brands of this operator. While the Golden Nugget grouping continues to hold the lead, they are now not so far ahead. The next closest operator is the Borgata and Caesars managed to jump this month to the number two spot in the revenue rankings for August, having seen an increase in earnings of close to 40% when compared to last month.
Because Caesars saw a big jump, the Borgata fell to the number third spot on the list. The Borgata Casino is the license holder with sub-brands playMGM, Party, Borgata and Pala operating under their licensing. playMGM has just opened under the brand so it will be interesting to see in the coming months if the brand moves back up based on earnings with this new venue included.
As we mentioned, the Golden Nugget still held the top spot in August, but did manage to fall behind just a bit. The dip in revenues was based on four jackpots being hit during the month, totaling more htan $800,000.
The Tropicana and Resorts seem to be holding their places at the middle towards the bottom of the list. The Tropicana saw an increase in revenues of 6% while Resorts saw online casino revenues slip by close to 8%.
Overall, online casinos continue to do well in New Jersey and are helping to drive overall totals to high or record numbers. It will be interesting to watch as the year plays out and how much overall earnings the state will see by the year’s end. The industry is on track to break numbers when it comes to yearly totals, especially if the online casinos continue to see total earnings of close to or over the $20 million mark.