New Jersey has released the data involving online gambling, with yearly totals and December information provided.
With 2018 in full swing, the iGaming revenue numbers for 2017 and the final month of year have been released in New Jersey. Reports show that online gambling in New Jersey is doing quite well with almost $250 million in earnings for the year. December was a good month, closing out the year with just over $20 million in earnings, an increase when considering year-on-year totals.
Snapshot of the Year/Month
The figures for New Jersey are quite impressive. In 2017, the state was able to earn $245.6 million in revenues. This is close to 25% more than what was earned in 2016. For the year, the state was able to earn $20 million or more ten months out of the year. For December, the online casinos earned $20.8 million.
For the past few months, it seems that growth has continued to it might finally be slowing down. Casino and poker growth is combined at around 13% for the year when compared to 2016 and this is a small growth rate when comparing other years. As far as individual operators are concerned, the Golden Nugget remains at the top. The casino has earned over $6 million three months running and show no signs of slowing down.
Overall, online gaming came in at $20.8 million for December. This was a 2.5% decrease from November and an almost 13% increase when comparing the same month in 2016. Looking at casino gaming, the online games brought in $18.8 million, which is a 3.1% decrease from November and a 15.6% increase when comparing December last year. Poker brought in $1.9 million which was the only category that had an increase from November of 3.6%, but was down by 7.8% from last year.
Breaking Down Numbers by Operator
Let’s start with the Golden Nugget. This operator has the Golden Nugget Casino, Betfair and SugarHouse all under one umbrella. For December, the Golden Nugget was able to earn more than $6 million, marking the 5th time the operator hit that earning amount. The operator saw a 27% increase year on year, the best in the industry.
Coming in second was the Borgata, with the Borgata Casino, Party, MGM and Pala in operation. The Borgata was the only licensee operating in the state that earned a double-digit percentage increase for year over year revenues. The casino was up almost 20% and online poker remained at steady numbers.
Caesars, a licensee with 888, Caesars, WSOP and Harrah’s in operation, was able to see a nice month over month increase. Caesars saw almost a 10% increase in earnings from November with $3.8 million in casino and poker online earnings. Resorts AC saw a drop in overall revenue earnings by bringing in $3.2 million in December revenues. This was a $400,000 decrease from the month previous. The Tropicana remained steady in their earnings, bringing in $3.4 million in December. Annual growth was up around 9% for the operator.
Now all eyes are on how New Jersey will fair in 2018. Having come close to a half a billion in earnings for 2017, it seems that everyone will be watching to see if the state will be able to reach that amount this year. If the monthly earnings continue to surpass $20 million, the state has a chance. By the end of the year, there may also be new operators in the mix. The Hard Rock Atlantic City is set to open land-based services later on this year and the newly acquired former Revel casino is set to reopen as well. If these operators begin offering online services, it could pump up the yearly earnings for the state, helping to push past the $250 million mark.