January may be considered one of the slower months for Atlantic City land-based casinos, but NJ online gambling revenue continues to set records.
The newest one comes to the tune of more than $30 million — a first in the NJ online casino industry.
NJ online casino operators didn’t just crack the $30 million mark; they shattered it with a reported $33,594,391 — the highest figure since the industry’s 2013 launch.
But this isn’t the only standout number.
Figures released by the New Jersey Division of Gaming Enforcement on Wednesday show an increase of 53 percent from the prior period. The highlights include four operators reporting double-digit gains.
Golden Nugget is the winner … again
Golden Nugget once again led the field of NJ online casino operators with an eye-catching $12,180,039 in revenue.
What makes this number stand out is the fact that it marks a 66.9 percent increase from the previous month. And this number is almost double the amount generated by its next closest competitor (Resorts Digital with $6,446,599).
Resorts did not have a bad month either, as its total signifies a 65.8 percent increase from the prior period.
NJ online gambling solid across the board
While several Atlantic City land-based casinos reported a loss in January (traditionally a slower month due to the weather), Internet casino revenue showed positive returns.
Here is a breakdown of all the other online gambling licensees:
|Online Casino Licensee||2019 Jan. Revenue||2018 Jan. Revenue||% Change|
Hard Rock, for its part, enjoyed its best month to date with $1,623,107.
Ocean Resort, which is in the process of an ownership change, continues to struggle with building its NJ gambling site brand.
The company, once again, finished last in the online gambling department with just $530,816.
Golden Nugget remains golden
The story of the Golden Nugget is an intriguing one.
Looking at the property’s overall revenue, and the online numbers boost what is a so-so performance on the casino floor.
The Marina District property, located walking distance from the much larger Borgata and Harrah’s, made just $14,582,780 — a 9.6 percent decrease from the previous period.
But once the online gaming revenue is factored in, the property’s overall revenue increased by 14.3 percent.
And then there’s DraftKings Casino
Sports betting numbers, also released on Wednesday, show that the Boston-based company and land-based partner for Resorts generated $7,136,619 in sports betting revenue to claim the top overall position.
But there is an interesting twist to its story.
Back in December, DraftKings started offering blackjack on its mobile sportsbook app. Additional games continue to be rolled out on a monthly basis and now includes live dealer games.
While the latest games don’t factor into January revenue numbers, DraftKings is making another large financial footprint on the NJ online gambling market.
2/ By our estimate, DraftKings pulled in almost $2.5mm in online casino revenue in NJ in January. That’s with a limited casino product. That puts DK in the top tier of online casino brands by revenue, and the number is likely to grow. FanDuel / Betfair also realizing big gains.
— Chris Grove (@OPReport) February 13, 2019
More of Atlantic City’s January revenue notes
The DGE report notes the total casino win from the industry was $177.3 million, excluding online.
When compared to the same period in 2018 ($162.4 million), it reflects a 9.2 percent increase.
This time last year, Hard Rock and Ocean were still closed. Sports betting, both retail and online, also were just a dream.
Combine all the numbers, and the industry’s total gaming revenue for the month equates to $220.6 million — reflecting a 19.7 percent increase.