New Jersey overcomes summer swoon to post 23% revenue growth
State’s online operators win $20.2m in June with casino doing the heavy lifting
New Jersey posted online gaming revenues of $20.2m in June, a 23% year-on-year jump but a slight downturn from the $21.1m earned in May.
Online casino grew 28% to $18.5m, while poker dropped 12% to $1.7m, as the traditional summer swoon set in.
The Golden Nugget and its licensees, Betfair and SugarHouse, maintained their position atop the market, growing 58% year-on-year to $5.6m.
The Borgata retook second place in the market after a down May, posting revenues of $3.8m, up 3% on last year.
Resorts continued its recent momentum despite the lack of poker growth, with revenues up 36% to $3.7m.
Caesars and Tropicana came in fourth and fifth respectively with marks of $3.6m and $3.5m respectively.
The new figures mean New Jersey licensees have now generated $599m in lifetime digital revenues.
“At its current pace, New Jersey’s online gambling industry will blast past the $700m milestone before it celebrates its fourth birthday in November,” said Steve Ruddock, lead analyst for affiliate PlayNJ.com.
“Instead of listening to agenda-driven hypotheticals and what-ifs about online gaming, lawmakers considering online expansion in states such as Pennsylvania should focus on the sustained and prodigious growth occurring in New Jersey.”
“The continued success of New Jersey iGaming shouldn’t be a surprise,” Ruddock said. “The synergies between online and land-based gaming are indisputable at this point, prompting casinos to step-up their commitment to iGaming. Frankly, it would be a dereliction of duty for an Atlantic City casino to not take full advantage of the many benefits online gaming affords.”