New Jersey Completes Six Years of Online Gambling
On November 21st, 2013, online casino gaming launched in the state of New Jersey. When the industry started, it only offered 13 online casino and poker gaming platforms. However, the market today is something much bigger. Over the years, the state has seen a huge jump in operations as well as revenues earned. In 2019, the industry has over 40 gambling sites in operation and they have matured. Is the industry ready for more competition from other states?
When the industry first began, it started with small offerings but still modest earnings. In December 2013, the state had their first look at a full month of revenues. The online gaming industry brought in $7.4 million at this time. This was good at the time, but now, its literally what one operator can pull in for the month, way below the total revenue numbers.
Right now, the online casino and poker industry of the state has reached a time when the license holders are bringing in record revenues all the time. The Golden Nugget continues to be the big earner, with their online revenues recently coming in at $16.6 million. This is over double what the state was bringing in overall back in December 2013.
The Resorts AC is also hot on their tail. The oldest casino in Atlantic City is doing well now that DraftKings is operating under their brand. For online gaming, the license holder recently brought in just over $12 million in one month. If you add in sports betting revenues, the total goes up to a whopping $20.8 million!
For years, New Jersey has stood alone as the top operator in the state. Their only competition was Delaware by way of online poker and casino gaming and Nevada, which only offers online poker gaming. However, this year, Pennsylvania was finally in the mix after online casinos launched back in the summer. And their industry continues to grow.
The online casino industry has been in the making for years and players finally have access to some content and they are logging online to take part in solid numbers. Certain operators offer services in both New Jersey and Pennsylvania, by way of online casino and sports betting, so they can benefit from both states.
Unibet, Parx and SugarHouse all offer their casino products in both states while DraftKings and FanDuel are busy with sports betting in each region. So, should New Jersey now worry that Pennsylvania will start taking some of their revenues? For now, we say no.
The New Jersey online gambling industry is already well-established. Players have their favorite online casinos and they aren’t particularly worried about trying something new in a different state. It is really just too early to tell how the state will be affected by a neighbor getting involved in the online gambling industry.
For now, most new states that are considering offering online casino and poker gaming are looking to New Jersey as a model for their own legislation and regulation. The state has been so successful with their online gambling industry, it makes perfect sense for others to use them as a guide.
New Jersey is setting up for a banner year as 2019 comes to an end. Records continue to be set each month and by December, we should see the state hit record yearly revenues as well as increase their overall earnings from the six years of online gambling operation. It is certainly something for the state to celebrate!