Borgata hits New Jersey basement in May
Operator’s revenues slip to $3.5m despite wider market growing by 27%
The Borgata delivered another slow month of egaming revenues in May, with the operator’s $3.5m revenues for the month dropping it to the bottom of the New Jersey market.
The $3.5m figure represented an 11% decline year-on-year for the operator, despite growth in the wider New Jersey market.
Total revenues from the state’s five egaming licensees grew 27% to $21.1m, with online casino again doing the heavy lifting, growing 35% to $19m.
Online poker suffered an 18% drop year-on-year to $2.1m.
The Golden Nugget and its sub-licencees, Betfair Casino and SugarHouse, continued to lead the market with May revenues of $5.9m, an 85% leap.
The Tropicana also enjoyed a successful month, growing 27% annually to $4m, good for second place in the market.
Resorts finished less than $1,300 behind the Tropicana with $4m while Caesars Interactive ranked fourth with 12% revenue growth to $3.6m, ahead of the Borgata.
The results mean New Jersey’s online casinos have now generated more than $100m in total tax revenue for the state, according to analysts from affiliate site PlayNJ.com.
“Even naysayers cannot deny the impact of New Jersey online gambling,” said Robert DellaFave, senior analyst for PlayNJ.com.
“New Jersey’s online gambling industry may be the state’s only new revenue stream to both generate more than $100m in tax dollars and to do it without placing a heavy burden on citizens.”