Online Gambling Continues to Succeed in New Jersey
June saw total revenues in the online gambling industry surpass the $20 million mark showing the state continues to know how to succeed when it comes to casino and poker game play via online gaming sites.
New Jersey is easily the state to beat when it comes to success in online gambling. The state has easily surpassed Nevada and Delaware, raking in millions in earnings each and every month. The past month’s totals were not record-setting but were a solid month, showing that New Jersey has what it takes to dominate the online gambling industry in the United States.
For the month of June, the state earned more than $20 million. This was the fourth best month for earnings online in the history of the industry and the fourth month in a row that the state was able to generate more than $20 million in monthly revenues. Online gambling is also responsible for the gaming industry of the state having good numbers instead of decreases. Online gambling revenues actually made up the difference between the casinos of the state posting year-over-year increases instead of losses.
David Rebuck is the Director of the New Jersey Division of Gaming Enforcement who recently spoke with the press stating that the report from June reflects the continued overall financial stability within the industry and the increasing strength for online gaming operations.
Breaking Down the Totals
By earning over $20 million for June, the state is on track to hit $600 million in overall totals since first beginning to offer online gaming in late 2013. For June, online casino gaming brought in $18,497,765 in total. Online poker earnings came in at $1,735,634. This created a total of $20,233,399 in online gaming earnings for the month. Year to date, online gambling in the state has produced $121,414,292 in earnings.
Online poker has seen a decline in the state with June being a low point. However, casino game play more than made up for the losses. Poker was down just over 11% while online casino gaming was up just over 28%. This created a total revenue increase of 23.36%.
When it comes to looking at the overall market share, the Golden Nugget creates the majority of earnings for the state. They took in $5.5 million for June which is much more than other operators. Resorts, Caesars, Borgata and the Tropicana bring up the rear, each bringing in around $3 million in earnings for the month.
The Golden Nugget online gaming offering has been able to earn $5 million each month and has done so for five months running. The casino actually saw a year over year increase in online casino gaming up more than 50% for June. While the Golden Nugget remains on top, the Tropicana came in at the bottom of the pack, with a revenue decrease of more than 13%. When looking at year-over-year totals, the Tropicana was up by almost 4% which was helpful for the brand.
Resorts was back down again for the month of June with an almost 30% decrease when looking at month-over-month. Numbers were majorly affected by online poker as Resorts works with PokerStars. The brand hosted the NJSCOOP in May which resulted in an increase of earnings for the brand, which hurt the month of June’s totals.
Caesars remains steady while other operators fluctuate in the state. For June, Caesars stayed within the $3.5-$3.6 million range which is something they have done for the past three months.
Overall, online gaming is doing quite well in New Jersey and it will be interesting to see how the industry does in the coming months. Will the state continue to see solid earnings or perhaps even an increase?