Golden Nugget Seems Unstoppable After Another Stellar Month of iGaming Revenues
The numbers are in for the month of April when it comes to online gambling revenues in New Jersey. And surprise, surprise, the Golden Nugget is at the top yet again. The operator continues to be a driving force in the industry and is showing no signs of slowing down. For April, the Golden Nugget brought in $13.9 million, the fifth month in a row that they earned an eight-digit figure.
April iGaming Totals
Growth continues for the state of New Jersey when it comes to online gambling. New sites have launched, and it seems even when new brands enter the market, there is room for everyone. Regulators in the state released the April totals this week, showing that $36.6 million was earned collectively in revenues for the state. This is the second largest month for online gaming ever. The highest month was the one previous, when March brought in $39 million.
The growth for the market is partially due to the sports betting industry. New Jersey was one of the first to start offering services online and they have reaped the rewards. With their online sports betting sites, cross-selling has occurred for online casino and poker sites, which has helped to drive in new traffic.
In total, online gambling brought in $36,582,934 in April. For online casino gaming alone, the revenues were $34.9 million. Revenues were up $23 million when compared to April 2018, a 59% increase for the state.
Online poker gaming was down 5.3% when compared to last April, with only $1.7 million in earnings. This was also a 9.5% drop month over month. Online poker continues to be a struggle for the state.
When it comes to individual breakdowns, the Golden Nugget is the top operator, again. They earned $13.9 million in April, easily surpassing their competitors. In fact, no other online gaming operator has even been able to surpass the $8.5 million mark.
For the number two sports, Resorts comes in strong. They have been battling for second for some time now and seem to have secured the spot. In April, the brand earned $7.1 million, largely due to the launch of the DraftKings casino.
Other operators did well but were far behind the Golden Nugget and Resorts when it comes to revenues. The Borgata was able to earn over $5 million for the second month running, with the new sportsbook launch of the brand this week helping to push numbers up in the future.
Caesars came in at $4.6 million for April, with the WSOP NJ site seeing a drop in monthly revenues. In March, Caesars was able to push past the $5 million mark but were unsuccessful in April. The Tropicana has been holding steady for months now, earning between $3 and $4 million each month. For April, the brand came in at $3.7 million.
Hard Rock is still considered somewhat of a newcomer to the online gambling industry in the state, earning just over $1.5 million for the month. Ocean Resort had a pretty low total of $308,000 but after changing owners, it is expected that the brand will still be at the back end of the operators. It will be interesting to see how the new casino owners will invest in the iGaming sector and if any positive changes will be seen within the brand in the coming months for their iGaming services.
Every month is pretty exciting once the new revenues for New Jersey’s online gambling industry are revealed. It will certainly be interesting to see where the state finishes up once the year comes to an end!