New Jersey online gambling revenue crossed the $30 million mark for the second month in a row.
The New Jersey Division of Gaming Enforcement released February’s numbers, and NJ online casino operators reported a combined $31,748,726 in revenue.
It’s a slight downtick from the $33,594,391 from January, which was the best month ever for NJ online gambling.
But the significance of February’s number is the 44.4 percent increase from the same period last year. Newcomers Hard Rock Atlantic City and Ocean Resort Casino were not open at the time. February 2018 closed out with $21,992,124 in revenue.
Bottom line: NJ online gambling operators are starting 2019 on a high note.
Golden Nugget is the golden child… again
There is a pattern when it comes to the Garden State’s monthly report, and it has to do with the top-performing license holder.
It was the lone operator to earn more than $10 million in revenue in February.
The $10,701,266 may not stand out as much as the industry-leading $12,180,039 it generated last month, but it’s a 35.7 percent improvement from the same period last year.
Here is a full breakdown of each operator and its internet gambling revenue:
|Online Casino Licensee||2019 Feb. Revenue||2018 Feb. Revenue||% Change|
Resorts becomes a real contender
Resorts Digital — the online arm of Resorts Casino in Atlantic City —is No. 2 on the list with a reported $6,657,591.
But what makes this figure stand out above Golden Nugget’s is the fact it experienced a whopping 76.3 percent increase from the same period last year.
The latter brand is currently integrated into the DraftKings Sportsbook app and includes live dealer games. Just three months into its life in the market, DraftKings Casino feeds off the success of its NJ sports betting app. This likely contributes to Resorts’ meteoric rise.
A standalone DraftKings Casino app could be coming this year.
Besides the two market leaders, the other NJ online gambling operators saw solid year-over-year growth.
Caesars reported $4,279,791 and a 34.1 percent increase.
Borgata reported $4,506,716 for an 18.8 percent increase.
On the flip side, Tropicana remained relatively flat with a 3.1 percent improvement from the same period as last year, but the $3,451,077 earned added to the positive trend.
Hard Rock and Ocean are still growing
For Hard Rock and Ocean online, the two youngest online casinos in New Jersey, comparisons are limited. But trends are visible already.
Hard Rock reported $1,668,777, which puts them toward the bottom of the pack.
But Hard Rock Online Casino has experienced growth over the last few months of its tenure in NJ. It’s well on its way to its first-ever $2 million month.
It also could benefit from March Madness betting. Its online sportsbook launched Jan. 26 as an integrated app with the rest of the online gambling site. Customers using the app to place sports wagers can take advantage of the shared wallet.
Ocean remains in ownership transition. The property is in the process of being taken over by New York-based hedge fund Luxor Capital Group. And as it is, February online gambling revenue came in at just $483,508 — the lowest of any of the license holders.
What about NJ online sports betting?
On its own, gambling sites in New Jersey are a powerhouse. But the addition of online sportsbooks certainly has changed things a bit.
That being said, there is no question that online sports betting contributes heavily to the success of online casinos thanks to cross-selling. Most of the 13 sportsbook apps share wallets and sites with established online casinos.
When included with NJ online casino and poker revenue, online sports betting brings the total revenue to $44.6 million in February. Not too shabby at all.