Highlights from December revenue report
December revenue reports from the state’s Division of Gaming Enforcement came out, and Golden Nugget took in just under $4.8 million in revenue for the month. That number puts it fully out front of every other site.
The next-closest competitor was Borgata, which took in just over $3.7 million. Caesars Interactive was right behind with $3,662,000.
Collectively the sites generated almost $18.4 million in online revenue. Just over $2 million of that came from online poker. The other $16.3 million came from online casinos.
Winners: Golden Nugget and Caesars
The biggest winner for the month was obviously Golden Nugget. The big take represents 26 percent growth from November and an impressive 67 percent growth in performance over December 2015.
Golden Nugget, who does not have an online poker offering, took in a total of $42.2 million in online revenue for the year. In 2015, the site had just over $30 million in revenue.
After beginning in the market as an also-ran of sorts, Golden Nugget is establishing itself as one of the top online casinos in the state.
Caesars also had a good month on the casino front. Revenues were up to almost $3 million. This is an increase both month-over-month and year-over-year.
Total overall revenues for the year for Caesars also saw a substantial uptick. After holding steady between $32 -$33 million in 2014 and 2015, the company took in over $38 million in 2016.
Losers: Borgata and poker
It is tough to call Borgata a loser after it finished the year on top in overall revenue with over $47 million. The site did see casino revenue dip slightly in December over November though. It also saw the smallest amount of growth year-over-year, while its competitors saw business boom.
Caesars may be a winner, but online poker in the Garden State appeared to be the biggest loser of December across all the sites. Revenue was up from $2.08 million in November to just over $2.1 million December, an increase of less than a percent.
More tellingly, Caesars and Borgata poker sites saw massive declines of 23.7 percent and 43.7 percent respectively compared to this time last year. Much of that can be contributed to the entry of PokerStars (via Resorts) into the market this year.
The entry of Stars did not seem to do anything but carve out a piece of the existing online poker pie. While casino revenues continue to grow, poker appears to be stagnating.
In 2014, New Jersey online poker took in over $29 million. In 2015, that number dropped to $23.8 million. The totals for 2016 appear to be around $26 million.
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