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New Jersey Division of Gaming Enforcement reports a record revenue increase in 2019. Top results have so far been achieved in March, going quite near the $40 million mark. Atlantic City Casinos are flourishing, with an overall 52.4% increase from last year’s April revenue reports.
Online casinos have seen a steady rise in New Jersey since they were first legalized in 2013. While neighboring Pennsylvania and Delaware also have online casino markets, it seems that New Jersey’s only competition is with itself. January through July 2020 saw $510m in revenue. The Formative Years of the New Jersey Online Casino Industry. The slow start wasn’t a death knell. Rather, it gave the market more space to grow. And grow it did. As seen in the chart below, from 2013 – 2018, New Jersey’s online casino revenue grew at a steady clip annually before skyrocketing in 2019. New Jersey posts a record online gambling revenue for the month of July. According to the figures released by the New Jersey Division of Gaming Enforcement, the licensed online gambling operators in New Jersey grossed $39.3 million in revenue in. That’s good for the second-highest monthly total since legal New Jersey online gambling was regulated in November of 2013. New Jersey iGaming Revenue Reaches New Heights in 2019. The highwater mark thus far was established in March, when iGaming operators generated $39,134,380 in combined “win” revenue across the casino and poker verticals.
Ever since the start of 2019, New Jersey’s online casino industry revenue has been skyrocketing with no signs of slowing down. The $30 million mark was breached back in January, with the revenue reports on following months even indicating proximity to yet another mark – $40 million.
Nevertheless, the March record revenue reported by the New Jersey Division of Gaming Enforcement soared all the way to $39,134,380, only to decrease slightly over the following month. Last Tuesday, the DGE revealed the numbers for April, going as high as $36,582,934.News Highlights
*New Jersey Division of Gaming Enforcement reports a record revenue increase in 2019.
*Top results have so far been achieved in March, going quite near the $40 million mark.
*Atlantic City Casinos are flourishing, with an overall 52.4% increase from last year’s April revenue reports.New Jersey Online Gambling Revenue FormsNew Jersey Online Casino Growth Overview
A total of seven land-based casino establishments in the state each operate at least one online casino brand, with some combining multiple platforms. Others even practice cross-game services including sports betting. Regardless of this, only five have been present since last year’s April, and according to official reports, they still managed to reach a most impressive rise of 52.4% in revenue during the one year period.
The numbers show that they have made a total of $141,060,432 in profits over the first four months of the year, showing for even more potential until the end of 2019.
The following is a complete overview of New Jersey profits for separate license holders and their contribution to the annual rise:RankingOnline CasinoApril 2018 RevenueApril 2019 Revenue% Change1Golden Nugget$8,133,024$13,854,52770.3%2Resorts Digital$3,612,726$7,137,48097.6%3Borgata$4,591,300$5,463,15319%4Caesars$3,508,820$4,579,09430.5%5Tropicana$3,172,891$3,685,35816.2%6Hard RockN/A$1,554,913N/A7Ocean ResortN/A$308,409N/AHow Do They Rank Individually?
Seeing the increase of profits as directly as through this table gives you a preview of the top contenders for this year’s greatest success story. There is no denying the impressive increase of 97.6% for the Resorts Casino, achieving the increase of slightly over $3 and a half million to over $7 million in a year’s time.
It’s safe to say that the DraftKings Casino website has contributed to the Resorts Digital online casino. This is mostly due to the popularity of the DraftKings Sportsbook, a significant player in the New Jersey online bookmaker’s scene, and valuable addition to the Resorts licensee.Golden Nugget Holds the Throne
Still, Golden Nugget undisputedly continues to hold the lead with an impressive increase of about $5 million, i.e. a 70.3% revenue increase. This has only been topped by last month’s revenue reporting $14,227,820 profits, both of which serve to set the casino licensee apart as the industry’s lead power.
The Borgata and Tropicana have also noted some rise in revenue, even though they are only slightly north of 20%. Caesars, however, has managed to achieve a 30.5% rise through its three brands:
*888 CasinoWhat’s to Come for New Jersey’s Online Gambling Industry?New Jersey Internet Gambling Revenue
Despite recurring turbulences, the New Jersey online gambling market remains as stable and varied as ever, with a notably positive tendency in all its aspects. About 80% of the monthly handle is mainly attributed to income from mobile app and browser popularity. The market has been experiencing a continuous 11-month growth, and with the rise of 16.9% in April revenue compared to last year’s, it seems like online gambling in the state is going nowhere but up.
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