Online Gambling Continues to Thrive in New Jersey
May online gambling results show that New Jersey continues to be the top operating state when it comes to iGaming.
With only three states currently offering legalized online gaming in the United States, any state interested has only a few examples to look to when considering legalization of their own. Nevada, Delaware and New Jersey are the only states to offer online gaming of some kind with legalization and regulations in place. The state of New Jersey has easily pulled away from the group and shown they are the state to watch when it comes to offering a successful online gaming market. Just recently, the Division of Gaming Enforcement of the state released details for May which shows that New Jersey continues to be the best when it comes to iGaming.
There were several key points taken from the information provided by the DGE for May. When considering the monthly totals, the state has now been able to earn just over $101 million in tax receipts since they began offering online gaming in 2013. More than $20 million has been earned over the past three months with May bringing in $21.1 million in revenues when considering poker and casino gaming combined. May was the second largest month this year coming just under the $21.7 million earned in March and the $20.8 million from April.
The reports show that the Borgata has now lost their lead as a top operator of online gaming and now sits in last place. For May, Borgata only earned $2.9 million in online casino earnings, the worst for the state and when combined with poker, only $3.5 million was earned. An online casino will soon be launched by the MGM brand which should be of help to the struggling brand.
The Borgata’s lead was replaced by the Golden Nugget, a brand that seems unstoppable. The Golden Nugget earned $5.9 million in May with their closest competitor being almost $2 million behind. The Golden Nugget remains the one to beat and the Tropicana is the next in line but still far from the top spot.
A Closer Look at the Totals
For May, the overall online gaming win was $21.1 million. This is just over 27% more when looking at year-over-year numbers. For online casino gaming, $19 million was earned, an increase of 35.6% YOY. Online poker suffered quite a bit with only $2.1 million in earnings which is a drop of just over 17% when considering how much was earned in May 2016.
Despite being down YOY, online poker was up just over 4% when considering April numbers. PokerStars hosted a tournament series which helped to push up the monthly totals. It will be interesting to see if the numbers increase in June as a new online poker room will have been in operation. Pala Poker just recently launched and will be included in the June totals.
We already looked at the Borgata and Golden Nugget, but there are also other operators in the mix. Caesars was up 20% YOY with $3.6 million in earnings but sits in 3rd place overall in the state behind the Golden Nugget and Tropicana. Resorts AC saw a good month, seeing a 65% increase in growth in YOY numbers.
Overall, the online gambling industry of New Jersey is seemingly thriving. Looking at the land based industry, changes are afoot as Hard Rock International plans to reopen the Trump Taj Mahal as a Hard Rock property and other operators are looking to offer gaming along the Boardwalk. When looking at the gaming industry as a whole, both online gaming and land-based options are doing well which shows that Atlantic City and the entire state seem to be on the up and up when it comes to the gaming industry.