New Jersey Online Casinos on Track to Hit $240 Million for 2017Published December 22, 2017 by Brett C
The New Jersey DGE recently reported that the Garden State has generated $20 million + in GGR for 9 months in a row. New Jersey online casinos and poker rooms are now on track to generate $240 million for 2017.
The New Jersey Division of Gaming Enforcement (DGE) recently announced that Gross Gambling Revenue (GGR) from online casinos and online poker rooms in the state has hit $20 million per month for the past 9 consecutive months. Back in February 2017, New Jersey online gambling companies generated a little less than $20 million. Since inception in 2013, the online gambling market has grossed $700 million for the state.
November also marks the first time that the Golden Nugget casino generated $6 million + in revenues each in October and November, significantly higher than other online casinos in the state. The DGE reported that online poker revenues continue to remain disappointing at under $2 million for the third month. This marks the second worst performance of online poker since 2015, and all 3 New Jersey poker networks reported declines in revenues year-on-year.
How They Stack up
The best performing operators and the worst performing operators include the following:
- Golden Nugget has experienced 63% growth year over year in November and this marks the fourth time that it has generated $6 million in monthly earnings.
- Borgata at #2 reported increases month on month, and year-on-year. However, Golden Nugget holds the #1 position by a long margin.
- Caesars online casinos and poker rooms reported increases of 4% month on month in casino and 6% month on month with poker.
- Resort AC’s PokerStars was down 16% year-on-year in November, but its casino division was up 9% year-on-year.
- Tropicana declined month on month in November, but it remains 10% above November 2016 figures.
Casino Trumps Poker
The top performing revenue generators (GGR) for the state of New Jersey were online casino games at $18.8 million, followed by online poker at $1.8 million. The last time that poker generated such lacklustre earnings was in June 2017 at $1.7 million. In November 2016, online poker revenues reached $2.1 million, and operators are hoping that 2018 will be a better year for online poker. Online gaming pundits dismissed talk of online poker earnings hurting down the industry, given that online casino revenues have picked up the slack.