New Jersey iGaming Revenues Up 22.8% To $11.7m In June

The New Jersey Division of Gaming Enforcement’s latest iGaming results make positive reading, with the state’s iGaming market up 22.8% to $11.7 million in June, representing seven consecutive months of year-over-year gains for the Garden State. Furthermore, online gambling has now generated $72 million in revenues for the first six months of 2015, a 14.2% improvement over the same time period last year.
Accounting for the majority of business in June was the state’s online casino vertical, which generated 32% more revenues at $9.865 million, or around 84% of total iGaming revenues. On the other hand, online poker continues to occupy an increasingly marginal position in the industry as a whole, and last month revenues fell to their lowest tally ever of $1,835,576, down by 11.6% compared to the $2,048,087 collected in June 2014. With online poker traffic and revenues trending ever lower, the return of PokerStars to the state’s iPoker market couldn’t come soon enough, although rumor has it frustrated players will have to wait until at least October before that eventuality comes to fruition.
Counting online casino and iPoker revenues together, Borgata/Partypoker lead New Jersey’s iGaming market market in June with $3.55 million in revenues, or a 29.6% market share, followed by Caesars Interactive with $2.64 million (22.6%). The state’s casino games-only operators then continued to make gains last month with the Tropicana generating $2.56 million in revenues (21.9%), and the Golden Nugget $2.53 million (21.6%), while New Jersey’s newest operator, Resorts Casino Hotel, saw its revenues jump to $400k from the $325k collected in May.
Finally, the state’s 8 land-based casinos generated $204.9 million in June, or $216.5 million when iGaming revenues are included. That amount may be lower by 8.2% compared to June 2014’s tally of $236 million, but once the state’s four closed casinos are excluded then that figure improves to a 5.5% improvement in revenues. Leading the way in terms of growth was the Golden Nugget up 30.8% ($19.7m), followed by Resorts up 22.75% ($14.1m), the Borgata up 16.8% ($60.3m), and Harrah’s up 7.3% ($31.8m). On the other side of the coin, revenues at the Trump Taj Mahal fell 23.5% ($15.3M), Bally’s was down 3% ($17.4M), Caesars was down 2.4% ($28.2M), and Tropicana was also down 1.5% ($27.2m).