New Jersey Online Gambling Continues to Soar; Golden Nugget Remains at the Forefront
New Jersey was one of the first states in the US to legalize online casino and poker gaming and they continue to be the top operating state. Month after month, revenue reports roll in that show record numbers and continual success. The Golden Nugget continues to be the top operator in the state, hauling in massive amounts of cash when compared to other operators.
The New Jersey Division of Gaming Enforcement have released the May revenue numbers, revealing that the state earned $38.3 million for the month. This was the second-highest month of earnings to date for the industry. The highest month ever came in at just over $39 million. The May total for online poker came in at $1.8 million which was a slight increase from April’s totals.
For New Jersey, the online gambling industry continues to meet record numbers. For May, revenues came in over $30 million and the state has hit or surpassed this mark every month since 2019 started. For online casino gaming, the total came in at just over $36.5 million. Combined revenues were up a whopping 58% when compared to May 2018.
The top operator remains the Golden Nugget, with May bringing in $14 million from online gaming. The Golden Nugget continues to be the operator to beat, having maintained the top position since December of 2016.
Coming in second was Resorts, as they have been able to reach solid revenue numbers after taking on DraftKings Casino. For May, Resorts earned $8 million, which was the 2nd best month ever. Third place went to the Borgata who brought in $5.9 million, a new top monthly total for the group.
The fourth place spot is one where several operators are hovering. Caesars is here, having earned close to $3.75 million last month. Their online poker segment via 888/WSOP controlled just over 40% of the online poker market for the month. The Tropicana hovers around fourth place as well, having earned $3.9 million this time around. The fact that they do not offer online poker pushes them into the fifth spot but close to the fourth position.
Ocean Casino Resort and Hard Rock remain at the bottom as relatively newbies to the online gaming industry. The Hard Rock earned around $1.5 million in May while Ocean Casino $476,435.
Sports Betting Revenues
For the online sports betting sector, the total came in $13.7 million. Online wagering in this sector continues to be the main way that players place their wagers. FanDuel Sportsbook is the top operator and they were responsible for a whopping $8.7 million in revenues in May.
When you add in the sports betting totals to the amount earned in the state, the total online gaming win comes in at around $54 million. This is a staggering amount of money and helps to show just how successful the state has become when it comes to iGaming.
With so much online gaming to offer, New Jersey continues to be the state to beat when it comes to overall iGaming revenues. Talks have started in the state as to a study being conducted to ensure that the industry does not suffer from a downturn like it has in the past. Limits may be put on the number of operating casinos in the region or other areas in order to avoid a loss of revenue in the future.
For now, the state shows continued success as players log on to enjoy online casino, poker and sports betting.