New Jersey iGaming posted solid earnings in October with gains across the board and with most casinos enjoying increases in revenue month-over-month.
Overall iGaming saw an overall increase of 6.9% from September with poker enjoying an 8% increase thanks to a bump from the Garden State Super Series and the 2015 WSOP Main Event.
NJ iGaming up 6.9% in October – 21.9% YOY
The New Jersey Division of Gaming Enforcement released figures for state iGaming late last week and the industry saw a 6.9% jump in revenue from September. Overall, the industry pulled in $12.8 million in October compared to $12.02 million the month before.
The gain was actually attributed to online poker gains of 8% month-over-month. Online table games saw a jump of 6.9% month over month. Below is a breakdown of overall gaming figures for New Jersey’s online casinos.
|Casino||Oct Revenue||Sept Revenue||% Change|
The only casino to see a dip in October was Resorts. This is the first time the casino has experienced a dip in revenues since launching in February. Odds are this is a temporary dip as the casino is expected to break the $1 million mark in monthly revenue by year’s end.
Looking at annual figures, NJ iGaming is up 35.6% compared to October 2014. Last year, iGaming pulled in just $9.48 million. Comparing year-to-date figures for NJ iGaming, the overall industry is up 17.6% through October 2015. Last year, NJ iGaming pulled in just $103.4 million through October compared to $121.61 million so far in 2015. Those figures attribute for the now defunct Ultimate Gaming.
Remaining operators are up 23.8% this year despite sliding revenues from Caesars and Borgata. Caesars is presently down 7.8% on the year, pulling in just $26.8 million this year so far compared to $29.07 million last year through October. Borgata is almost running flat compared to last year. They are up only .7 of a percent with $37.6 million in earnings through October. They pulled in $37.32 million through October last year.
Online poker gains may be short-lived
Online poker pulled in a combined $1.91 million in October, up 8% from September but still down 15% year-over-year. Borgata brought in the majority of those earnings, up 14% for online poker in October.
October’s boost is attributed to two things. First, the Garden State Super Series ran successfully in October, boosting online poker tournament numbers. Also, the buildup for the November Nine may have helped.
With certain top-tier pros like Daniel Negreanu being featured regularly on ESPN broadcasts and regular ads on WSOP episodes, this could have brought in a little extra traffic.
Unfortunately, these boosts may be short lived. While the November Nine did run through November 10, there are no tournament series running this month. Also, with the recent announcement that PokerStars may not launch until the first half of 2016, some players may just wait until next year to come back.