New Jersey’s March Revenue of $39.1 Million Sets a New Online Gambling Record

Following a year of suspense over sports betting regulation, New Jersey is finally fully regulated for many online gambling verticals. The eagerness of players from New Jersey to place their bets online has once again shown positive results for the market, with $39.1 million wagers placed on online gambling in March. With this number, New Jersey gets back into the records, as its revenue rose up nearly three-fifths, in year-on-year terms.

New Jersey’s Online Gambling Market Setting New Records

The New Jersey Division of Gaming Enforcement has released a statement showing that New Jersey’s regulated online gambling operators have managed to generate a revenue of more than $39.1 during the month of March, generating a 53% rise in comparison with last year’s reports for March. But this figure sets a new record, breaking the record from this January. New Jersey has an incredible $5.5 million higher online gambling revenue than the previous best on a monthly basis.

New Jersey’s online poker market had a decent month, even though numbers show a slight decline of 3.2% in year-on-year terms to $1.9 million. The online casino vertical, however, generated 57.7% of the revenue to over $37.2 million. Even though the previous best record in January had a slightly higher year-on-year percentage gain, 58.5%, the March’s figure in terms of dollars was larger for $6.1 million.

The sites that contributed to this record, as usual, are Golden Nugget-operated online casinos, which generated a staggering $14.2 million this March. This figure is nearly two-thirds higher than the figure in March last year. In addition, this March’s revenue was $2 million higher than Golden Nugget’s own previous best revenue in the online gambling market. To give you a better comparison, Golden Nugget’s $14.2 million was the sum that New Jersey’s entire online casino gambling market generated in September 2016!

Other Contributors to the Record-Setting Sum

Of course, Golden Nugget overshadowed many other operators’ significant gains, but Golden Nugget is a leading operator, always leading the way, being the first to introduce live casino in the state, so this was expected. However, it is worth mentioning that Resorts Digital Gaming generated a revenue of nearly $8.5 million. This is a significant gain for an operator whose rival is Golden Nugget. $641,000 of the $8.5 million came via the operator’s poker network. What’s more interesting is that the $8.5 million was twice the sum Resorts Digital Gaming generated in March last year,  but this probably has to do with the gain coming from DraftKings’s new online casino which operates under Resorts’ online gambling license and permits.

Borgata’s sites generated $5.44 million, showing an increase from last year’s $4.6 million. Again, $483,000 of the revenue came via poker. Speaking of poker, Caesars Interactive Entertainment is the market leader in revenue via poker, generating $806,000. Caesars was not far behind Borgata, generating $5.13 million this March.

Rest of the sites that contributed to the overall New Jersey online gambling revenue were Tropicana with $3.7 million, Hard Rock Atlantic City with $1.63 million and Ocean Casino Resort with close to $500,000.