New Jersey’s iGaming Sector Continues to Bloom

Staff Writer Industry News 1,540

Records are continually being set as New Jersey’s regulated online market just established one, and the Golden Nugget smashed its own with more than $7 million.

Last week New Jersey Division of Gaming Enforcement (DGE) released the results of a survey it recently conducted. The figures show that all of the state’s online gambling licensees combined provided the revenue of almost under $22m in January this year which is 16.7% higher than January 2017, and higher than the overall revenue record of $21m held from March 2017 until this month.

Online poker revenue has been stagnating pretty much since December 2017, which is why this massive gain is worth even more, emotionally. In the meantime, the casino vertical was on fire, as it improved 21.4% to just over $20m, which is on its own more than enough to expand the market’s general $20m+ revenue streak to 11 consecutive months.

Fortune Piles Up

In light of those events, the Golden Nugget family of online gambling sites, including BetfairCasino.com, GoldenNuggetCasino.com and PlaysugarHouse.com, shattered its own record with an incredible $7.3m.

This is more than any other individual operator has ever managed to get. The Golden Nugget’s previous ceiling was $6.25m, and it was set in July 2017.

The Borgata family of online gambling venues came second with its $4.15m ($3.5m casino, $626k poker), and in third place finally came Resorts Digital Gaming and its PokerStarsNJ.com with a profit of 3.9m ($3.07m casino, $817k poker).

Coming fourth was Caesars Interactive Entertainment New Jersey with a decent $3.35m ($2.85m casino, $507k poker), closely followed by Tropicana’s casino-only sites and the gains of $3.2m.

Newcomers Coming Through

New licensees have been introduced as well, and they are expected to stir up the iGaming world in New Jersey.

Hard Rock International was first announced this month, and it is currently remodelling the Trump Taj Mahal casino. It had also teamed up with Gaming Innovation Group (GiG) on a brand new platform that is to launch later in 2018.

AC Ocean Walk, evolving the $2.4b white elephant Revel into the Ocean Resort Casino, is to launch a New Jersey real-money gambling site alongside with technology provider GAN by Summer 2018.

 

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