Yet another record was broken in July. New Jersey online casinos combined to earn $39,300,000 in revenue in the month, an all-time record. This doesn’t include NJ online sportsbooks, which was nearly another $14M in revenue.
These numbers are staggering, but they are likely to grow and grow as popular sports begin in the next month or so. Professional football, college football, playoff baseball, and professional and college basketball are just around the corner. There is much more money to be made in taxes by the state, especially as more and more users are aware.
It makes you think…what was everyone waiting for?
In the latest press release from the New Jersey Division of Gaming Enforcement, these numbers are detailed:
– Total Gaming Revenue: $334.4M, up nearly 11% from last year.
– Internet Gaming: $39.3M, up nearly 52%
– Year-to-Date Internet Gaming: $256.8M, up 55.2%
Who is the #1 Online Casino?
Golden Nugget takes the crown yet again as the top revenue-earner in July, bringing in $14,895,411, up nearly 60% from last year. This is the 32nd consecutive month that Golden Nugget has led the charge.
Behind Golden Nugget is Resorts Digital with $6,868,812, Borgata with $6,365,511, then Caesars Interactive NJ with $5,081,756.
By the Numbers:
$93,536,587 – Internet Gaming Revenue from Golden Nugget in 2019
$256,775,046 – Internet Gaming Revenue from All Casinos in 2019
$91,337,378 – Increase in Dollars for YTD July 2019 compared to YTD July 2018
$27,730,335 – Total Taxes for NJ for July 2019
$164,240,566 – Total Taxes for NJ for YTD 2019
New Jersey Online Gaming Revenue
For July 2019:
Online Casinos: $37.4M
Online Poker: $1.9M
In total, the change jumped 52% as previously noted, but poker revenue jumped “only” 2.1% since last year.
Up and Down Revenue Report
Borgata – $6.3M, highest ever.
Caesars – $5.1M, second-highest ever.
Golden Nugget – $14.9M, FORTY percent of the market.
Resorts – $6.9M, it’s not $8.5 like it was in March, but still number two. DraftKings NJ Casino is also on this license.
– Hard Rock: $1.9M, after a record in June, big drop off of nearly 25%.
– Ocean Resort: $382K. Small total number, but did increase from June.
The overall numbers are staggering, and it’s much-needed tax money for the state of New Jersey.
Expect the numbers to grow more and more as football nears, and expect to see massive numbers in September and October, with NFL, CFB, and NBA along with the MLB playoffs. Also keep an eye on the impact of the PlayMGM to BetMGM Casino NJ brand change as well.