5 Stories To Watch Out For In the NJ Online Casino Industry

Stephen Abiola
Stephen Abiola
Online Casino New Jersey

2021 is off to a good start for the NJ online gambling industry as it hits its first $100-million-plus month in revenue. This big mark was achieved in January when the NJ internet betting revenue came in at around $103.7 million.

This feat not only marks an increase from December figures, but also indicates an even bigger leap from record figures in the same period last year.

With this new record achieved, the bar is set even higher – but can the online gambling business grow over $100 million?

These five events might hold the right answer.

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1. Online Gaming Revenue Nourishing AC Casinos

Most Atlantic City executives believe that brick-and-mortar gaming is the heart of the gaming business. But with the recent Covid-19 pandemic that affected most businesses, it seems things are changing. Land-based casinos in the state had to deal with floor capacity limits of 25% which later increased to 35%.

Though casinos may be gaining ground again after the restrictions, mobile gaming revenue has surged throughout last year. With that said, land-based businesses accounted for 54% of the total gaming revenue while mobile gaming made up 35% of the total.

NJ online casino and sports betting gave casino business a big boost with total gross revenue being up to 9.4% for January.

Considering AC casinos were operating at 100% capacity last year, there is a big possibility that these figures would go up as restrictions are lessened and casino floors are opened to more gamers.

2. Golden Nugget Hits $31 Million, Again

Golden Nugget comes out on top with $31 million in gaming revenue. This was close to the all-time high of $31.5 million set by the license holder in July 2020.

The total of the gaming revenue came from the most recognized brand, Golden Nugget online casino, however, three other brands also contributed to the big win. They are

  • Betfair NJ online casino
  • SugarHouse online casino
  • BetAmerica Casino

The land-based casino reported a revenue of just $10 million

3. Borgata + BetMGM Nearly Hits the 180% Mark

Borgata topped the list as the biggest winner in terms of year-over-year percentage growth. The license holder recorded a win of $28.7 million which is just about $3 million away from Golden Nuggets’ record and represents a growth of 176.8%.

The continuous growth of the platform could be likened to the marketing efforts by BetMGM which continue to yield good fruits in the form of growing revenue. The Borgata brand remains strong while BetMGM builds itself a Garden State customer base.

4. NJ Sports Betting Inches Closer To The $1 Billion Mark

January was just as good for NJ Sports betting though not the best. The industry enjoyed a record of $960 million with its 19 sportsbook operators reporting revenue of $82.6 million. The latest is just a few millions shy of December’s report of $996.3 million.

This number is expected to increase as the sports calendar is fully packed. Super Bowl betting came first and just after that, comes March Madness betting.

5.Wynnbet and William Hill Generates Buzz With New products

The NJ online gaming market is already packed with 30+ gambling sites and two dozen brands so it is not all that easy to generate a buzz with the launch of a new product.

However, William Hill (William Hill online casino) and Wynn (WynnBet) are not new names in the gambling industry and both rolled out new products to NJ gamers in 2020

While the DGE doesn’t really give a clear figure of revenue by operator, both companies and their land-based partners definitely saw significant growth in the latest January report.