New Jersey shows improved online gambling revenue in May

According the latest figures released, the New Jersey Division of Gaming Enforcement (DGE) show the state’s licensed online gambling operators posted a combined revenue of $24.3m in May, an increase of 15.3 per cent higher the same month last year. It is just $1.3m behind the market’s all-time peak in March of this year.

Online casino revenue also surged by 18.1 per cent year-on-year to just under $22.4m, while online poker was down 9 per cent to a little over $1.9m. On the plus side, May’s poker total was an improvement from April’s $1.76m and the rate of decline was roughly half the 17.5 per cent year-on-year fall recorded in May 2017.

For the year-to-date, total online gambling revenue is up 15.5 per cent to over $116.8m, with online casino up 19 per cent to just under $107.5m while poker is down 13.5 per cent to just under $9.4m.

In what has become a familiar pattern, the Golden Nugget’s casino-only online operation continued to dominate its Garden State competitors, collecting $8.6m in May, an $470k improvement from April and just $50k below its all-time record in March.

The Borgata family of sites ranked second on the revenue chart with just under $4.6m (nearly $443k from online poker), essentially flat from the previous month. Caesars Interactive Entertainment had a solid showing with $4.1m ($770k from poker), up $600k from April, in part due to the WSOP and 888 online poker sites now sharing liquidity with Nevada and Delaware.

Resorts Digital Gaming placed fourth with $3.6m (nearly $717k from its PokerStars NJ partner) while the Tropicana’s casino-only offering slipped to fifth place with $3.4m.

New Jersey’s online market reports will soon feature a new vertical: sports betting. The state is set to accept its first legal land-based wagers on Thursday, and the online wagering could commence in mid-July, assuming the DGE can craft the necessary regulations and approve online wagering licenses within that span.

Source: CalvinAyre.com