New Jersey Online Gambling Revenue
- New Jersey Online Gambling Revenue Forms
- New Jersey Online Sports Betting
- New Jersey Online Sports Betting Revenue
Ever since the start of 2019, New Jersey’s online casino industry revenue has been skyrocketing with no signs of slowing down. The $30 million mark was breached back in January, with the revenue reports on following months even indicating proximity to yet another mark – $40 million.
Nevertheless, the March record revenue reported by the New Jersey Division of Gaming Enforcement soared all the way to $39,134,380, only to decrease slightly over the following month. Last Tuesday, the DGE revealed the numbers for April, going as high as $36,582,934.
The November online gambling revenue reached close to $27 million – $14 million of which came from NJ sports betting sites, the NJ Division of Gaming Enforcement reports. In 2017 the New Jersey online gambling industry had revenues of total $245.6 million, which has already been surpassed by this years number, with one month left of this year. “Handle” refers to the total amount wagered, while “revenue” is what’s left over after the winning tickets are paid out. New Jersey taxes online sports betting at 13% and retail sports betting at 8.5%. New Jersey’s online gambling industry continues to grow. In 2017, the combined revenue of Atlantic City’s online casinos and poker sites was $245 million. That’s a 21% increase from 2016 when New Jersey’s iGaming niche generated $195 million. Delaware added only $2.4 million in online gambling revenues, which was an 18% decline.
News Highlights
- New Jersey Division of Gaming Enforcement reports a record revenue increase in 2019.
- Top results have so far been achieved in March, going quite near the $40 million mark.
- Atlantic City Casinos are flourishing, with an overall 52.4% increase from last year’s April revenue reports.
New Jersey Online Casino Growth Overview
A total of seven land-based casino establishments in the state each operate at least one online casino brand, with some combining multiple platforms. Others even practice cross-game services including sports betting. Regardless of this, only five have been present since last year’s April, and according to official reports, they still managed to reach a most impressive rise of 52.4% in revenue during the one year period.
The numbers show that they have made a total of $141,060,432 in profits over the first four months of the year, showing for even more potential until the end of 2019.
The following is a complete overview of New Jersey profits for separate license holders and their contribution to the annual rise:
| Ranking | Online Casino | April 2018 Revenue | April 2019 Revenue | % Change |
|---|---|---|---|---|
| 1 | Golden Nugget | $8,133,024 | $13,854,527 | 70.3% |
| 2 | Resorts Digital | $3,612,726 | $7,137,480 | 97.6% |
| 3 | Borgata | $4,591,300 | $5,463,153 | 19% |
| 4 | Caesars | $3,508,820 | $4,579,094 | 30.5% |
| 5 | Tropicana | $3,172,891 | $3,685,358 | 16.2% |
| 6 | Hard Rock | N/A | $1,554,913 | N/A |
| 7 | Ocean Resort | N/A | $308,409 | N/A |
How Do They Rank Individually?
Seeing the increase of profits as directly as through this table gives you a preview of the top contenders for this year’s greatest success story. There is no denying the impressive increase of 97.6% for the Resorts Casino, achieving the increase of slightly over $3 and a half million to over $7 million in a year’s time.
New Jersey Online Gambling Revenue Forms
It’s safe to say that the DraftKings Casino website has contributed to the Resorts Digital online casino. This is mostly due to the popularity of the DraftKings Sportsbook, a significant player in the New Jersey online bookmaker’s scene, and valuable addition to the Resorts licensee.
Golden Nugget Holds the Throne
Still, Golden Nugget undisputedly continues to hold the lead with an impressive increase of about $5 million, i.e. a 70.3% revenue increase. This has only been topped by last month’s revenue reporting $14,227,820 profits, both of which serve to set the casino licensee apart as the industry’s lead power.
New Jersey Online Sports Betting
The Borgata and Tropicana have also noted some rise in revenue, even though they are only slightly north of 20%. Caesars, however, has managed to achieve a 30.5% rise through its three brands:
- 888 Casino
What’s to Come for New Jersey’s Online Gambling Industry?
New Jersey Online Sports Betting Revenue
Despite recurring turbulences, the New Jersey online gambling market remains as stable and varied as ever, with a notably positive tendency in all its aspects. About 80% of the monthly handle is mainly attributed to income from mobile app and browser popularity. The market has been experiencing a continuous 11-month growth, and with the rise of 16.9% in April revenue compared to last year’s, it seems like online gambling in the state is going nowhere but up.