Online gambling operators deliver best revenue yet
Figures issued Wednesday by the New Jersey Division of Gaming Enforcement show that online gambling operators in the state enjoyed another highly successful month in January, generating revenue up 16.7 percent year-on-year at $21.9 million to set a new record (the previous benchmark was $21.7 million achieved in March 2017).
January marked the eleventh month running where online revenue topped $20 million.
The star of the show was once again Golden Nugget, whose brands GoldenNuggetCasino.com, BetfairCasino.com and PlaySugarHouse.com set a new individual operator revenue record with $7.3 million (the previous best for the group was in July 2017 when it delivered revenues of $6.25 million).
Borgata trailed in second place with revenue of $4.15 million while Resorts Digital Gaming and its PokerStarsNJ.com reported revenue of $3.9 million to clinch third place, ahead of Caesars Interactive Entertainment with $3.35 million and the Tropicana’s casino-only sites on $3.27 million.
The gains came principally from online casino action, with online poker delivering a dismal 16.6 percent year-on-year decline at a mere $1.95 million overall.
In stark contrast online casino action overall surged 21.4 percent year-on-year to over $20 million
Bad winter weather impacted Atlantic City land revenues severely in January, with casino operators reporting an overall decline of 10 percent y-o-y in revenue. The city’s total gambling revenue of more than $184.3 million in January compared adversely with about $204.6 million in January 2017.
Competition is set to intensify in Atlantic City this year with the scheduled launches of Hard Rock Hotel & Casino Atlantic City and the Ocean Resort Club, formerly Revel Casino-Hotel.
“While the casino industry encountered a difficult start to 2018, the Division of Gaming Enforcement does not believe that the results reported in January will be indicative of the performance of the industry for 2018, especially considering the announced openings of two casino properties later this year,” said Christopher Glaum, bureau chief of financial investigations for the state Division of Gaming Enforcement.