New Jersey online gambling nearly hits $250 Million

Business News

NJ online gambling sites banked a total of $20,757,645 in December, $1,937,061 at the poker tables and $18,820,584 in casino games, according to data released by the New Jersey Division of Gaming Enforcement Friday.

The figures, while representing a 12.9% year-over-year gain, are somewhat disappointing in that they are the lowest of such increases experienced by the industry since April 2015. In comparison, NJ online casinos broke a new revenue record in December 2016 with $18.3 million, a 31% Y/Y gain at the time.

Indeed, even as sites like Golden Nugget and Betfair Casino rolled out major December holiday promotions, revenue still fell short of the $21.7 million all-time peak which the industry saw in March.

Online casino, which has never seen a year-over-year decrease in NJ, got another bump last month, but fell to just 15.6%, the lowest to date. Caesars and Tropicana were the only two licensees to show month-over-month gains, even as they enjoyed the extra day of operation in December.

Golden Nugget racked up the biggest win of the month, with $6,086,534, with Borgata on its heels with $3,675,415 and Tropicana in third with $3,363,200.

Revenue at Borgata has remained flat since the summer, suggesting that the two new sites it recently added to its roster, Scores Casino and playMGM, have still not had a significant effect on its bottom line.

March was by far the biggest month for online casino in 2017, when it posted a record-topping $19.4 million win. August was also a banner month, when casino games maxed out at $19.1 million.

Revenue at NJ online poker sites was up 7% month-over-month, but continued its negative year-over-year trend with a nearly 8% decrease.

Banking $776,201 in December, PokerStars still claims the biggest piece of the market, with 40%. Borgata took in $630,823 for the month, giving it a 33% share, while WSOP/888 posted $530,037 for a 27% slice.