At some point, NJ online gambling revenues had to drop. It stands to reason, considering the New Jersey industry had never enjoyed such an extended stretch of success heading into June.
For three straight months, revenue exceeded $23 million. The peak was March, during which online casinos banked a record $25.6 million.
Since then, however, there has been a dip. May dropped a touch, to $24.3 million, and according to the latest release by the NJ Division of Gaming Enforcement, online gambling in New Jersey fell below $23 million in June to snap that streak.
Still, it was another strong month for the industry — another year-over-year boost overall — and several properties are reaping the rewards.
Digging into the numbers
Overall, the industry did drop from May. The DGE reported that NJ gambling sites accounted for $22,684,094 in June. While that could concern some, that total is still a 12 percent increase from this time last year.
Online poker clocked in at $1,757,839, which, like overall revenue, is down from May’s total of $1,867,445 but is still a slight uptick (1.28 percent) from June 2017.
The $20,926,255 in online casino revenue is also a slight drop-off from the previous month (3.35 percent) but is a whopping 13 percent better year-over-year.
As a result of strong June 2018 figures, the year-to-date revenue for the NJ online gambling stands at $139,540,151, which is a 14.9 percent increase from the $121,414,292 reported at this time in 2017.
Golden Nugget again leads the market
For the fourth straight month, Golden Nugget exceeded $8 million in online casino revenue. And once again, the casino is the market’s leader by a wide margin.
Up 50 percent year over year, Golden Nugget raked in $8,369,746 this past month, more than double the next-highest casino.
That would be Borgata, which came in at $4,030,295. That total is down more than 9 percent from May’s overall revenue. But, like most others in the market, it is an increase (3.68 percent) from June 2017.
Of note, Caesars posted $3,312,332 in overall revenue, down more than 8 percent year-over-year. But had online poker revenue soar from June 2017. With $814,929 reported, poker for the casino jumped 73.38 percent year over year.
Welcome to the industry, Hard Rock Atlantic City
Hard Rock Atlantic City only had a few days to make an impact on the online gambling market.
Opened on June 28, one of the newest additions to the Boardwalk also quietly launched its online casino the same day.
All told, those last few days of June — obviously the first few days of Hard Rock online casino — resulted in $5,569 in revenue. Certainly with a full month in July, the platform should see a much larger revenue stream in the near future.
Also ready to be accounted for is Ocean Resort Casino, which opened along with Hard Rock AC on June 28. The casino soft-launched its online platform last week with what a resort spokesperson called a “scaled down” version of what the NJ online casino will become.