This information is divided in several ways and shows how much each land-based casino is generating, as well as the revenue each generates in online gambling.
What the reports don’t show is how much revenue each brand is generating in the New Jersey online gambling market.
The DGE’s online gaming revenue reports list revenue by license holder, of which there are five:
However, there are anywhere from two to four brands operating under each license:
The brands and sub-brands under the Borgata license are:
Brands and sub-brands under the Caesars license are:
Brands and sub-brands under the Golden Nugget license are:
Brands and sub-brands under the Resorts AC license are:
Brands and sub-brands under the Tropicana license are:
The absence of revenue breakdowns by brand has to do with reporting requirements.
“Division regulations require public reporting of win information by casino entity licensees, not by casino service industry licensees or vendors,” said DGE spokesperson Kerry Langan. “The requirements are the same for both brick-and-mortar and Internet.”
When we look at online casino revenue by license, Golden Nugget is the clear market leader ahead of a tightly grouped pack all within striking distance of one another. Here are the figures from July:
However, if we break revenue down by brand, the results tell a different story, or at least the same story from a different point of view.
Here’s how the rankings would look based on Eilers & Krejcik Gaming’s estimates of market share by brand in New Jersey:
An important caveat: Since the numbers are not fully known, these are only estimates by E&K. They’re subject to monthly fluctuations because of hold and other factors.
There is more parity at the top of the rankings when we break down operators by brand, but there is also less parity top to bottom.
Instead of a single frontrunner and a tightly bunched trail pack — all with a significant market share — New Jersey becomes a clear case of haves and have-nots when we switch from licensees to brands.
Comparing a brand-by-brand breakdown of online casino market share to market share by license further emphasizes this point.
The second chart also makes it clear there is a method to the madness in the crowded online casino market. With only a single exception, a company’s performance seems predetermined by its brand’s presence in New Jersey.
The land-based casino brands from Atlantic City — Golden Nugget, Tropicana, Borgata, Resorts, Caesars and Harrah’s — are dominating the market, with a collective 64 percent market share, nearly two-thirds of the market.
The only AC-branded online casino not pulling its weight is Harrah’s, but this is likely explained by the crossover with its sister casino, Caesars.
Together, Caesars (sixth) and Harrah’s (ninth) would combine for the fourth largest share in the New Jersey online casino market.
Non-local, land-based brands — Mohegan Sun, Pala and SugarHouse — have captured a smaller, but still significant, market share, ranging from three to five percent.
Also in this category is Virgin, a global brand most New Jerseyans know, evidenced by its near six percent market share.
The foreign online gaming companies — party, 888, and PokerStars — bring up the rear … with one exception: Betfair.
Compared to the other foreign online gaming brands, Betfair’s success sticks out like a sore thumb and helps explain why Golden Nugget looks like an absolute world-beater (instead of a clear frontrunner) in the DGE’s monthly revenue reports.