New Jersey Online Gambling Sets Record Month in October
Published November 19, 2018 by Elana K
New Jersey’s online gambling industry reached another record-high this October, hitting $26.75 million in revenue. Its previous record was $25.9 million, set in July of this year.
New Jersey’s online gambling industry has reached another record-high this October. Its online casinos and poker rooms generated more than $26.75 million, a 30% year-on-year increase and nearly $1 million more than its previous record of $25.9 million, which was set this July. The Golden Nugget, in particular, reached its own record-high with $9.67 million in October revenue, beating its previous record of $9.33 million, also set in July.
Online Poker Still Struggles
Despite New Jersey’s incredible month, its online poker industry is continuing to disappoint. While October’s revenue was $500K more than its record low of September, the industry showed a 14.5% year-on-year decrease, bringing in only $1.65 million.
Casinos by the Number
Borgata came in second after the Golden Nugget, bringing in $4.36 million, only $407K of which came from its poker operations. Caesars Interactive Entertainment came in third place with revenue totaling $3.9 million, $606K of which came from online poker. The Tropicana, which doesn’t offer poker, came in fourth place with $3.7 million in online casino revenue, and Resorts Digital Gaming, along with its partner PokerStars, brought in nearly $3.5 million, $640K of which came from online poker.
NJ's New Online Casinos Are Growing
While the state’s two new online casinos didn’t make the top 5, their revenue is growing at a respectable, even impressive, pace. Hard Rock Atlantic City surpassed the $1 million revenue mark this October, up more than 50% from last month. And while Ocean Resort didn’t reach as high, it did show growth of more than 83% from September to October, giving casino owners reasons to be hopeful.
NJ Sports Betting Also Delivers
NJ’s sports betting industry is having a great month as well; in fact, it's having a great five months. Since sports betting was legalized in June, total revenue has reached nearly $600 million, with $260 million wagered in October alone. Since New Jersey governor Chris Christie was the one who took on the Supreme Court in an effort to make sports betting legal in the U.S., it's no surprise that his state is setting records and trailblazing the way for others that want to follow.
