New Jersey Division of Gaming Enforcement releases November online gaming revenue totals.
When a month comes to a close, it usually takes around two weeks for online gaming revenues to be reported by the Division of Gaming Enforcement in New Jersey. These reports show how much the online casino and poker operators in the state have fared for the month in question. Just yesterday, the DGE reported the November totals for the state. The main takeaway is that online casinos to do well while online poker cannot seem to get a stronghold.
What the Reports Revealed
To begin, the financial reports showed that within the past nine months, the state has continued to see more than $20 million earned in total, each month. The last time the $20 million mark was not met was in February. Overall gaming came in at $20.6 million which is a 3.5% increase from October and a 20% increase when compared to November of last year.
Breaking the totals down into casino and poker operations, casino operators earned a total of $18.8 million. This was a 4.3% increase from October and a 24.6% increase from last November. Poker did not fare nearly as well. Online poker operators brought in only $1.8 million. This is 3.3% less than October and 13.1% less when comparing year over year totals.
Breaking It Down with Providers
The online casino operators of the state did quite well for November, even if poker numbers saw a decrease. The Golden Nugget, which operates the Golden Nugget, SugarHouse and Betfair, was able to earn more than $6 million for the fourth time this year. When comparing earnings to last year, the brand was able to see a 63% increase in earnings, an amazing feat!
Borgata stayed at the number two spot, with operations via Borgata, Party, Pala and MGM. Revenue was up, which was good, on both month to month and year over year terms. Despite seeing an increase, the group was unable to compete with the Golden Nugget and take over the top spot.
Resorts AC, the group behind PokerStars NJ, Mohegan Sun and Resorts operations, saw an increase of MoM gains with 9% more in November with 19% increase for the year. Poker was not good for the brand, as PokerStars saw a big drop of 16% when comparing this November with last year.
The only venue to see a decrease in overall gaming totals for the month was the Tropicana. The online gaming operator was down 2.57% when comparing October to November.
Since the online gaming market was launched in 2013, the state has earned $700 million in revenue. For the year, $224 million has been earned. Industry analysts feel that the state could reach the $250 million mark by the year’s end. Online casino operators would have to far surpass the $20 million to reach this goal or see poker increase to help beef up totals. So, by the end of the year, New Jersey should at least get close to this historic yearly total.
For now, there is much up in the air for the state as they continue to try and add to their gaming industry. The United States will rule next year in the Christie vs NCAA case, which will determine if the state can begin to offer sports betting. Also, to be determined will be which areas will play host to satellite casinos now allowed in the state and which, if any, existing casinos will apply for licensing. The state only continues to expand upon their gaming industry in the hopes of offering something great and different to their residents and visitors.