Resorts Casino Posts Strong NJ Revenues
Month after month in New Jersey, the hot topic regarding online gambling was the Golden Nugget. The brand has continued to dominate the online gambling landscape, earning the number one spot time and time again for total revenues earned. The brand has reached the double digit mark for monthly earnings and are showing no signs of slowing down. Competition for the brand has been scarce but Resorts might be ready to give them a little competition.
Resorts has caught the attention of gaming analysts, particularly due to the revenue returns from online casino gaming and sports betting. Year over year, the brand has seen a huge percentage increase of just over 271%! The New Jersey Division of Gaming Enforcement released the new figures which showed the huge jump in earnings.
For March, online casino gaming together from all operators came in at close to $40 million in revenues. Just recently, New Jersey Gambling Sites spoke with a consultant for Resorts Digital Gaming, Ed Andrewes. Mr. Andrewes was able to provide insight as to why Resorts has done so well. Putting it simply, Resorts has almost doubled the number of operators on their skin. They have also invested a great deal in products as well as marketing materials.
A big change for Resorts this year is sports betting. The DraftKings Sportsbook app is new to the brand and has done quite well. The platform for DraftKings sports betting launched on August 6th, and the offering continued to expand.
The platform now offer an online casino that includes live dealer games. It was quite a surprise when DraftKings began to provide casino gaming options, but smart since the gambling industry continues to grow and do well in New Jersey.
The sportsbook of DraftKings has done well because it has reached a different demographic. It caters to a younger sports bettor and they tend to prefer table games. The players visiting the DraftKings site are placing their sports bets and also wagering at the tables.
For Resorts Digital Gaming, they currently have three mobile sports betting applications operating via their license and four online casino sites. The sports betting options include: BetStars NJ, DraftKings and Resorts Sportsbook. The online casinos include PokerStars NJ, Resorts Online, Mohegan Sun and DraftKings.
In March, Resorts Digital earned just over $7.2 million in sports betting revenues. This was the highest in Atlantic City. Online gaming revenues came in at just over $8.4 million which is over 100% more from last March. Total gaming revenue came in at just over $15.7 million.
Resorts is also still growing. They are now towards the top of the online gambling charts in New Jersey regarding revenue charts and they are not showing any sign of slowing down their growth. The Golden Nugget remains number one but they may have some competition on their hands if Resorts continues to see an increase in revenues month after month.
Experts have feared that because the online gambling market is so large based on the number of operators in New Jersey, that saturation would eventually occur. So far, so good. It seems that the state can handle the number of online gaming sites and there are enough players to go around. Experts do feel that the industry will level out at some point, but when that will be is anyone’s guess. Only time will tell if the state will continue to earn higher revenue numbers month after month or if stabilization will finally occur and the same numbers are earned on a regular basis.