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New Jersey showed other states what it meant to be in the black with almost a quarter of a billion in revenue in 2017 for its online poker sites and NJ online casinos.
This trend isn’t slowing down, as the state’s total gross gaming revenue topped 20 percent every year since the industry began, reported Online Poker Report.
This state could truly be a beacon for other states in a budget bind, potentially providing a huge incentive for New York and Pennsylvania online casino markets to eventually get legalized.
There were clear winners and losers this past year when it came to operators.
The winners in NJ
- Golden Nugget: The casino brought in more than $6 million in revenue for the fifth time and the third-consecutive month.
- Borgata: The only other licensee to experience gain the double digits, up nearly 20 percent.
The bottom half
Resorts AC and Tropicana filled out the bottom of the list, with the former dropping to the lowest spot for overall revenue and the latter hitting the average industry growth point of nine percent.
Overall NJ numbers
Overall revenue for NJ in December was $20.8 million with negative 2.5 percent change month over month and 12.9 percent growth year over year. Casino, comparatively, snagged $18.8 million in revenue with a slightly higher negative change of 3.1 percent and a 15.6-percent increase year over year.
Poker raked in $1.9 million with a 3.6 percent increase and an almost eight percent decrease year over year.
Since 2014, gross gaming revenue in New Jersey doubled from $122.9 million to the year’s total $245.6 million.
Notably, poker’s revenue dated back to the launch is $107 million. Since launch, casinos brought in $615 million to kick a total of $722 million in revenue
Operators as a whole generated $43 million in total taxes for the state for a total revenue collection of $126.5 million.
Online casinos taking the hits with the gains
The market as a whole was down month over month and up year over year.
While the year displayed 10 months with over $20 million in revenue, growth for casino was uncharacteristically low in December, one of the lowest growth rates in years (sitting at 13 percent). April 2015 was the last time the growth rate didn’t hit 13 percent.
This could be a market indicator suggesting a slowdown coming, but only time will tell.
Here are the total revenue numbers for December by operator (difference year over year):
- Borgata: $4,306,238 (16.36%)
- Caesars: $3,800,670 (3.77%)
- Golden Nugget: $6,086,534 (27.06%)
- Resorts: $3,201,003 (1.89%)
- Tropicana: $3,363,200 (8.95%)
Golden Nugget recently added its first US live dealer poker game to its set of live dealer online games at the end of December. Leading online casino games, Golden Nugget comes in with 473 online casino games, 21 table games and 13 online blackjack games. The operator was also the first to launch virtual sports via SugarHouse and took the lifetime lead for casino revenue, surpassing Borgata.
Others who added to their lineups included Tropicana, Virgin, and Betfair.
[show-table name=cta-golden-nugget]
