Online Gambling Revenues Continue to Climb in New Jersey in AprilPublished May 22, 2018 by Ivan P
The New Jersey online gambling market is on track for another record breaking year as the April report shows 10.6% year-on-year increase.
New Jersey, one of few US states where online gambling is legal and regulated, continues to show a constant market growth. The latest report for April 2018 released by the state's Division of Gaming Enforcement demonstrates a 10.6% year-on-year increase compared to April 2017. With the total revenue of $23 million, April was the second biggest month since the regulation, but still behind the record-breaking March of 2018.
Online Casinos Leading the Way
There are two significant segments that make up the New Jersey online gambling space: online casinos and poker sites. Online casino numbers are regularly far ahead of the numbers posted by poker rooms and April was no different. Namely, online casinos contributed more than $21.2 million of the total revenue. The online poker gain was $1,761,000.
Of five casinos operating online gambling sites in New Jersey, Golden Nugget posted the biggest numbers, with a total revenue of $8.1 million. Borgata, which also operates an online poker room, was in the second place, with the total revenue of $4.6 million.
The Industry Continues to Grow
Past 12 months have been great for the online gambling industry in New Jersey. Over that period, the industry generated combined revenues of $258 million, which is a very significant figure when considering the fact that, since its inception some four and a half years ago, the overall total stands at $815 million.
Although April wasn't as good as March, it was still the second best month in the short history of regulated gambling in New Jersey and the industry is on track for another record-breaking year. In 2017, the total revenue was $245.6 million (representing a 29.4% increase in relation to 2016), and that number could be shattered by the end of 2018.
One thing definitely worth the attention is Golden Nugget seriously threatening to seize the largest market share, having already overtaken large competitors such as Caesars and Tropicana and currently only a few percentage points behind Borgata.