Can anything stand in the way of the state of New Jersey setting month-after-month of online casino revenue records?
Apparently not. New Jersey recorded incredible numbers as the state’s online casinos cleared $40 million in October 2019 and when combined with online poker, it surpassed over $45 million. If you include sports betting in that mix, then total New Jersey October revenues jumped to $85.58 million, increasing by more than $15 million when compared to the previous month, according to official figures released by the state regulator, the New Jersey Division of Gaming Enforcement (NJDGE). The Garden State continues to be a shining light as an example of how a beneficial relationship between online sports betting and online casino products can work hand-in-hand to produce big wins for consumers and online betting companies alike.
NJ’s Parallel growth in sports betting, land-based and online casinos
One of the more remarkable aspects of the Garden State’s revenue numbers is the sustained growth of online casino since the launch of online sports betting in June 2018. New Jersey’s online casino revenue recorded a new high-water mark for the fourth consecutive month in October 2019 reaping in online casino and poker revenue topping $45 million, and with a similar number generated by the state’s retail and online sportsbooks together the online gaming twins accounted for $91.6 million of the $293.9 million that the New Jersey state gambling industry took in for the month.
Perhaps even more remarkably, the land-based casino sector is also on the rise, albeit by much less. It’s amazing to think that while online casinos and online gaming in general has been skyrocketing in the Garden State, that in the same time period, Atlantic City’s bricks-and-mortar casino revenue is also up 0.8% over the last 12 months.
It all goes to show that New Jersey has debunked the cannibalization arguments that opponents say have stalled the spread of online casino gambling across the United States. New Jersey’s numbers prove that there are zero indications that online casino growth is siphoning money out of the land-based casino economy.
Online Casino’s extra benefit to the NJ State Budget
However, the New Jersey state budget gets more of a boost from online gaming compared to land-based gaming. The state budget is benefitting big time from the online casino and online sports betting craze, as it collects a 13% tax of online casino and sports gaming gross revenue from the operators (not from your pocket) as compared to only 8.5% for brick-and-mortar wagering. Do it online for New Jersey!
Breaking down the full New Jersey October 2019 online casino and online poker revenue numbers
- For the first time, Golden Nugget’s online casino revenue surpassed its land-based revenue.
- Resorts combined online casino and online poker numbers went past the eight-figure mark for the first time.
- Combined online casino revenues for the Golden Nugget and Resorts were larger than the entire online casino market in the same month (October 2018) last year.
- Hard Rock is gaining momentum with the launch of Unibet under their license earlier in the fall.
- For the year to date, the New Jersey Treasury has collected an impressive $247.1 for states services from casinos and their affiliated online gaming and sports betting products.
New Jersey Online Casino Revenue for October 2019
- Golden Nugget – $16.63 million.
- Resorts – $9.78 million.
- Borgata – $7.37 million.
- Caesars – $3.57 million.
- Ocean Resort – $0.543 million.
- Hard Rock – $1.81 million; and;
- Tropicana – $3.88 million.
Total – $43.58 million
New Jersey Online Poker revenue in October 2019
- Resorts – $.559 million.
- Borgata – $.390 million; and;
- Caesars – $.691 million.
Total: $1.64 million