Online Gambling in New Jersey Experiences Another Great Month
If it wasn’t already a fantastic period for online gambling in New Jersey, the sector has once again managed to rake in the moolah, establishing its second-best revenue month for 2018. According to the figures released by the NJDGE (New Jersey Division of Gaming Enforcement) earlier this week, licensed online gambling operators in the state posted a combined revenue of $24.3 million, which is 15% more than the revenue achieved in 2017 for the same month.
However, it fell short by $1.3 million when compared to the all-time peak in March 2018.
Online casinos were the big earners, as usual
The casino vertical has a major role to play in bringing up the revenue figures. Online casinos earned around $22.4 million, an 18% increase over last year’s earnings for the same period. However, online poker experienced a drop of around 9%, bringing in around $19 million.
The total for poker was higher than its April earnings, which was around $1.76 million. The rate of decline also fell by half. In May 2017, it was estimated to be at around 17.5% year-on-year.
Total online gambling revenue on a year-to-date basis went up by 15.5%, bringing the figure to $116.8 million. Online casinos saw a 19% boost, bringing in $107.5 million. However, poker saw a drop of 13.5%, bringing in just about $9.4 million.
A familiar pattern
Keeping up with a recent trend, the Golden Nugget’s casino operations led the race, leaving behind competitors in the dust. The vertical earned $8.6 million in May; an increase of $470,000 compared to earnings in April and only $50,000 below the earnings in March, which is the current all-time high.
The sites operated by Borgata came in second, raking in around $4.6 million, with $443,000 of that coming in from online poker. However, compared to March and April, the earnings fell flat.
Caesars Interactive Entertainment had a good run in May with $4.1 million; an increase of $600,000 compared to earnings in April. Around $770,000 of that came from poker. The growth in earnings is being attributed to the 888 and WSOP online poker sites, which now share liquidity with Delaware and Nevada.
Resorts Digital Gaming came in at number four with $3.6 million, $717,000 of which came from PokerStars. However, its casino-only offerings brought in only $3.4 million, landing in 5th place.
New Jersey is now getting ready to welcome sports betting, with the first legal land-based wagers being accepted later this week.