It seems every month when the new revenue totals come out for New Jersey, the state has hit another milestone. For July, the online gaming revenues are in and a total of $87.5 million was generated. This breaks the previous monthly record of $85.9 million set back in May. Even though casinos reopened last month, players still logged online to bring in this record number of earnings.
Breaking Down the Numbers
Online casinos and poker rooms in the Garden State set a new record for revenues coming in at $87,492,952. For online casino gaming, the bulk of the earnings came from this sector at $82,674,391. Online poker was up as well, with just over $4.8 million in earnings. This was an increase of 36%.
Online casino gaming was up 120% for the year on year totals while monthly earnings were down, but only slightly at 1.7%. For online poker, earnings were up 31.8% from June and over 155% from last July.
So, who was the big earner? Who other than the Golden Nugget? The operator continues to set the gold standard when it comes to online casino gaming, setting a new record in July with $31.5 million in earnings. They hold 34% of the market share.
Resorts came in at second place with $16.8 million in the online casino sector and $1.1 million in online poker revenues. This was a huge increase for both categories, when comparing monthly and yearly totals.
The Borgata came in third, earning $845,580 from online poker and $14.4 million from online casino games. The brand was down from June but saw a nice increase overall when comparing totals from last year.
As casinos are only operating at 25% and lack a lot of amenities that players are used to, it would not be surprising to find that players continue to log in and play in record numbers. The next few months will be a good indicator as to if the online gaming industry in the state will continue to grow or slow back down as players go back to casinos or slack off from iGaming.
Don’t Forget Sports Betting
It is important to note that sports betting figures are considered separately from the casino and poker industry. For July, sports betting brought in $29.6 million in July. Of that amount, $27 million came from online gambling. When the MLB and NBA got back at it, the online sportsbooks saw a huge turnout for betting.
August is setting up to be an even bigger month as the NHL playoffs are now taking place on top of the other sports on offer. Retail sportsbooks are back in action, but players seem to be logging online instead.
2020 has definitely been an odd year overall with the coronavirus taking center stage. While the virus has negatively impacted the world in many ways, the online gambling industry seems to be able to thrive as players are finding online casinos and poker rooms an option for entertainment while trying to stay social distant from others to avoid the deadly virus. We shall see in the coming months just how the industry fares as new revenues reports are provided.