NJ Online Gambling Revenue Breaks Records in January 2018Published February 21, 2018 by Elana K
The New Jersey Division of Gaming Enforcement (NJDGE) has just released the state’s revenue for January 2018, revealing a new record-high for the overall industry and an individual high for the Golden Nugget.
If you thought that 2017 was New Jersey’s record-setting year, you ain’t seen nothing yet! The New Jersey Division of Gaming Enforcement (NJDGE) has just released the state’s revenue for January 2018, revealing a new record-high for the overall industry and an individual high for the Golden Nugget.
The total revenue from all of New Jersey’s online casino operators in January 2018 reached just under $22 million - a 16.7% increase from January 2017. The total revenue also shattered the previous record-high of $21.7 million that was set in March 2017.
New Year, Same Old Story
The success of online casino games and the downward spiral of online poker was the story of 2017, and unfortunately, it has carried over into 2018.
NJ online casinos generated more income than ever in January 2018 despite online poker having a terrible month. In December 2017 the industry brought in about $1.95 million, and in January 2018 it plateaued in the same place. (Though it did manage a slight increase from June 2017, when online poker reached its low at $1.73 million).
Fortunately, NJ Governor Chris Christie has some unplayed cards up his sleeves, so to speak. In October 2017 he approved the state joining a shared poker liquidity compact with Nevada and Delaware; once that actually happens, it could mean an upward climb for NJ poker revenue.
The Golden Nugget Leading the Way
January 2018 was a particularly good month for the Golden Nugget, which broke industry records by earning $7.3 million from its family of online gambling sites. No casino operator had ever broken the $7 million mark, so the Golden Nugget’s success is indeed cause for celebration. It not only gives the Golden Nugget a certain standard to maintain, but it can enourage other casino operators, like Borgata and Caesars, to reach for the stars.