New Jersey iGaming Revenue Soars 23% in OctoberNovember 16, 2017 10:26 am
In October, New Jersey’s gambling market generated $206.3 million in revenue, higher by 1.7% compared to the $203 million collected in the same month last year. Accounting for $20.6 million of that tally was online gambling revenue, without which the state’s seven casinos would have seen their business contract by 0.3% year-on-year.
Breaking the figures down further, online casinos produced revenue of $18.6 million in October, which was down by 2.5% compared to the previous month, but higher by an impressive 30.1% year-on-year. Poker, on the other hand, saw its revenue fall to $1.9 million, down by 19.1% versus last October.
Leading the way in terms of revenue was the Golden Nugget, whose online operation generated $6.1 million last month, followed by Borgata ($4.1m), Resorts Digital ($3.47m), Tropicana ($3.46m), and finally Caesars Interactive-NJ ($3.3m).
For the first ten months of 2017, New Jersey’s online gambling market has now collected over $200 million in revenue, already making this year the industry’s most successful to date, even with two months of the year still remaining. Needless to say, online casinos have been responsible for providing the state’s impressive growth, while poker revenue continues to slide each month. Next year, however, the Garden State is hoping to reverse some of the decline after enacting its interstate iPoker compact with Nevada and Delaware, with Pennsylvania expected to join the poker sharing pool somewhere down the line.
In October, the Borgata led the way in terms of overall land-based gambling revenue, although the $59.4 million it generated was lower by 7.4% year-on-year, making the venue the only NJ casino to report a decline last month. Meanwhile, the Golden Nugget collected $24.2 million (+17.5%), Caesars took $25.7 million (+9.5%), followed by Resorts with $15 million (4.7%), Harrah’s with $30.3 million (+3.5%), Bally’s with $16.8 million (1.7%), and the Tropicana with $28.1 million (0.5%).
New Jersey’s casinos have now collected $2.04 billion for the ten months running through to October, marking a 0.3% improvement compared to the same period of time in 2016.