The New JerseyDivision of Gaming Enforcement released revenue numbers for online gambling in February today.
The market gained roughly 9% despite the shorter month. A significant drop in poker revenue was offset by gains in casino products. The market’s performance was generally in line with expectations.
February headline numbers for NJ online gambling
Total revenue: $10.3 million, up 8.9% from January.
Totals by operator with change from January in parentheses:
Borgata (includes Borgata and Party): $4,085,444 (+5%)
Caesars (includes WSOP.com, AAPN, 888 and Caesars properties): $3,335,470 (+9%)
Golden Nugget: $460,121 (+62%)
Tropicana (includes Trop and Virgin): $1,345,138 (+62%)
Trump Plaza (Betfair): $493,590 (-12%)
Trump Taj (Ultimate): $587,323 (-46%)
Total by product:
Poker: $3.1mm (-10%)
Casino: $7.2mm (+20%)
These are absolute numbers and do not reflect the shorter month. Daily average for February was $367,857 vs $305,195 for January.
Poker dropped month-over-month by about 10%. February was 3 days shorter than January.
Casino made up the difference and then some, gaining ~20% despite the shorter month.
All operators saw a total MoM increase except for Trump Plaza (betfair) and Trump Taj (Ultimate).
Tropicana’s numbers were likely bolstered by the launch of Virgin casino brand.
Charts for NJ online gambling revenue to date
Note that DGE reporting is grouped by permit holder, as are the charts below. So, for example, even though 888 and Caesars operate separate brands in New Jersey (AAPN and WSOP, respectively), the revenue for both brands is grouped under Caesars because Caesars is the permit holder.
Total revenue for NJ online gambling operators
Poker revenue for NJ online gambling operators
Where does the NJ market go from here?
There are a few positives that bode well for the months to come:
The emergence of alternative payment systems such as Neteller and paysafe card for Skrill should help ease the payment processing pressure.
VISA acceptance rates are unlikely to get any worse and could continue to improve as governmental and industry reps continue to focus on outreach to the banking industry.
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Chris is the publisher of OnlinePokerReport.com. Grove also serves as a consultant to various stakeholders in the regulated market for online gambling in the United States.