New Jersey iGaming Revenues Up 35% in SeptemberOctober 14, 2016 12:06 pm
New Jersey’s online gambling market has been enjoying a golden 2016 so far, and has consistently been posting double-digit year-on-year gains each month. September was no exception, either, with revenues coming in at $16.2 million, higher by 35% compared to the $12 million collected in September 2015. As a result, for the first nine months of this year New Jersey’s internet gambling market is currently up by almost 33% y-o-y.
New Jersey has five operators offering online gambling products, and in September the Golden Nugget moved into pole position after generating $3.6 million in online revenues. Borgata was then nudged into second spot with $3.3 million, followed by Caesars ($3.2m), Tropicana ($3m), and Resorts Digital ($2.9m).
Including the Garden State’s eight land-based casinos, which have since been reduced to seven venues following the Trump Taj Mahal’s closure in October, revenues generated totalled $226.6 million, down by 1.5% from September 2015. Needless to say, that decline would have been more severe if not for the positive iGaming revenues, and commenting on the overall results, Matthew B. Levinson, chairman of the Casino Control Commission, stated:
“Gaming revenue fell 1.5 percent in September — a month marked by a threatened hurricane, a state of emergency and two canceled beach concerts over the long Labor Day weekend and the winding down of operations at the Trump Taj Mahal. Despite all of those obstacles, half of the casinos reported increases for the month.”
Posting gains was the Resorts up 10.6% to $16.8m; followed by the Golden Nugget up 9.5% to $21.5m; the Tropicana up 8.1% to $29.2m; and the Borgata up 2% to $67.6m. As Joe Lupo, Senior VP of Operations at the Borgata commented:
“It is good to see some of the remaining AC properties continuing to reinvest in the customer and their product to keep the Atlantic City visitor in town and those properties doing well.”
On the other hand, the Taj Mahal was down 51.2% to $8.1m; Harrah’s was down 8.3% to $28.9m; Caesars was down 3.9% to $29.8m; and Bally’s was down 3.6% to $18.1m.