New Jersey Online Gaming Continues to Push Past $20m Mark
For the seventh month in a row, online casinos and poker rooms in New Jersey have earned over $20 million.
New Jersey is not playing around when it comes to online casino and poker gaming. The state has continued to do well month after month in 2017. The latest reports show that for the month of September, the gaming industry has earned more than $20 million yet again in online revenues. This marks the seventh month in a row that online operators have been able to eclipse this mark.
Highlights of the Month
Online gambling continues to be a top producer in New Jersey and is in no way harming the casino gaming industry as a whole. Many were afraid that online gaming would hurt the already struggling land based industry in Atlantic City but that is far from the case. While revenues continue to hit over the $20 million mark for online operators, the overall year on year growth for Atlantic City is $17 million more than last year. So anyone arguing that online gaming is hurting land based numbers needs to think again.
The Golden Nugget was losing their lead when considering totals from August but in September the operator was able to continue their commanding lead. The online gaming operator earned $5.7 million in revenues which is close to $1.5 million more than the number two opponent.
As far as online poker is concerned, PokerStars is the market leader. However, their share might soon dwindle down if they continue to lose their lead. The brand was in the top spot again for September but second place was less than $100,000 away in regards to revenue totals.
Overall, online gaming came in at $20.4 million in earnings which is a 26.9% increase year over year. For online casino revenues, a 33% increase year over year was reported with $18.5 million in earnings for September. For online poker, revenues came in at $1.9 million which is a decrease unfortunately year over year of 12.5%. Poker should post a good October as the New Jersey Championship of Online Poker takes place this month at PokerStars and is always a popular series.
The Golden Nugget remained the leader of the pack when it comes to online gaming revenues with $5.7 million earned for the month. This amount was an amazing 64% more than what was earned in September 2016. The Borgata took the number two spot, with $4.2 million in revenue earnings. The Borgata was able to see an increase in both poker and casino gaming revenues.
Caesars experienced a drop in revenues when looking at last month’s totals. With $3.4 million earned for September, this was around $1 million less than what was earned in August. However, totals were still up from last year. Resorts had a good month with $3.6 million in earnings, which was great for the brand since they had a low month in August.
The Tropicana earned $3.4 million for September which is a 10%+ increase when looking at September of last year. While year on year totals were good, the brand did decrease in earnings around 10% when looking at August numbers.
Overall, New Jersey is doing quite well when it comes to online gaming. It will be interesting to see if the state can finish out the year hitting the $20 million mark or more during the next three months reports. The state is well on their way to breaking a record for yearly earnings, most likely eclipsing the amount earned in 2016.