News From The Casino Scene

NJ online casino biz racks 20m for 9th month in row

NJ online casino biz racks $20m for 9th month-in-row

New Jersey has released the gross revenue statistics for its regulated online poker sites. The gaming sites have racked $20 million for the ninth straight month. The last time the NJ online casino industry failed to get past $20 million revenue mark was in February.

 Golden Nugget is the biggest winner, with the collection of over $6 million. It has racked more than $6 million in revenue in consecutive months for the first time. There is a large gap between Golden Nugget and other online casino operators in the state.

The monthly revenues of the NJ’s online casinos are released about two weeks after the close of a month. Since the launch in 2013, online casino business in New Jersey has amassed $700 million in revenue.

 Poker, on the other hand, did not have similar collections but was under $2 million in revenue for the third straight month, also the second-worst monthly revenue collection since 2015. Likewise, PokerStars experienced their second-worst full month of revenue since foraying into the virtual world in New Jersey. All three top poker networks in NJ registered a drop in revenues on a year-over-year basis.

 Poker is hoping for a revival after suffering losses in the recent months. After a below-par $1.7 million in revenue in June, the segment has picked up just to reach $2 million a month briefly although the recent trend has been poor. In November 2016, the revenue from Poker had hit $2.1 million. New Jersey sharing player pools with Nevada and Delaware, which is expected in 2018, is the silver lining the segment is eyeing for revival.

 Borgata, the second leading casino behind Golden Nugget, was one of the big gainers with revenue percentage up in double digits, both in terms both (month-over-month) MoM and (year-over-year) YoY. Caesars was one of the operators which registered growth in both poker (+6%) and casino (+4%) on a MoM basis. It also increased three percent YoY.

 Golden Nugget recorded a huge growth year over year basis — increase by 63 percent for November on MoM, also going past $6 million for the fourth time in its history. Resorts AC had a forgetful month, falling 16 percent YoY, although achieved +9% MoM on the casino, which is the best increase of any operator in November. Tropicana, Virgin was an exception as the operator experienced a MoM decrease in revenue.

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