New Jersey iGaming Industry Continues to Soar to New Heights
The New Jersey Division of Gaming Enforcement have produced the revenue numbers for the month of June, which shows the online gambling industry is truly booming in the state. When comparing year over year totals, the month of June saw an almost 70% increase in monthly earnings. Total revenues came in at just over $38 million with the number being the 3rd largest month for the state in the history of operations.
A Successful June
Last month was truly a good one for online gaming operators in New Jersey. There are seven license holders in the state and four were able to see an increase in earnings within the double digits. The top earner, surprise, surprise, was of course, the Golden Nugget. The brand continues to lead the state in earnings, this time around seeing over $13.5 million in June. This is an amazing 62.5% increase when compared to June 2018.
But the big wow of the month goes to Resorts Digital. For some time, Resorts have been moving up in the state, taking on the number two position with revenue earnings. For June, the company saw an increase coming in at a whopping 106.3% from last year. This is a huge uptick for the brand and show just how well the state is doing as far as online gaming is concerned.
Borgata and Caesars also big increases in overall earnings. Caesars was up slightly higher than Borgata at 49.9% with just over $4.9 million. For Borgata, the brand was up 49.7% with just over $6 million in earnings.
Tropicana only saw a slight increase of 4% with just over $3.7 million in earnings. Ocean Resort had no figures to compare to and came in at a low $356,790 for the month. The Hard Rock was up quite a bit considering they only earned just over $5,000 in June 2018. This time around, the casino brought in $2.4 million.
Hard Rock Slowly Pushing Forward
Having just launched officially just over a year ago, in June 2018, the Hard Rock Atlantic City is still trying to gain their footing in the region. The casino quickly launched online gaming and finally seem to be gaining ground. In June, the brand was boosted by Unibet, a new online casino operator offered in the state operating under the Hard Rock license.
The brand is well-known in the UK and has done well in New Jersey. Hard Rock was able to see an almost $1 million jump from May to June which should be attributed to the Unibet launch. The site is also still in its early stages with only basic gaming options. As it grows, it should help to propel the Hard Rock even further in their quest to gain a stronghold in the state.
Along with casino gaming, Unibet also has plans to launch a sportsbook. The pending launch will help the brand to extend their reach within the gambling industry of the state. They will also have the ability to cross-sell which has proven to be a successful tactic among Atlantic City properties.