releases the gross revenue numbers for its regulated online poker sites
and NJ’s online casinos
each month, generally about two weeks after the close of the month.
November 2017 highlights
- Nine straight months over $20 million. The last time the NJ online casino industry failed to eclipse $20 million was February of this year. There’s little reason to think this isn’t the new floor for iGaming revenue in the state. It was also the best month since revenue ticked past $21 million in August. The entire market since launch in 2013 has now accounted for $700 million in revenue.
- Golden Nugget above $6 million again. Golden Nugget brought in more than $6 million in revenue in consecutive months for the first time ever. The gap between it and other online casino operators in the state continues to be stark, even though it’s not even a part of the online poker segment.
- Nothing seems to be going poker’s way. Poker was under $2 million in revenue for the third straight month. It was the second-worst monthly performance since way back in 2015, before PokerStars joined the market. Speaking of which, PokerStars had its second-worst full month of revenue since it opened its virtual doors in NJ. All three top poker networks in the state saw revenue drop on a year-over-year basis.
Top line numbers
Revenue / month-over-month change / year-over-year change (normalized for one more day in October)
- Overall: $20.6 million / +3.5% / +20%
- Casino: $18.8 million / +4.3% / +24.6%
- Poker: $1.8 million / -3.3% / -13.1%
Poker is hoping that this is as low as it goes. After a valley of just over $1.7 million in revenue in June, the segment bounced back above $2 million a month briefly. But the recent trend has been poor. Last November, revenue almost hit $2.1 million. Short of sharing player pools with Nevada and Delaware — likely to happen sometime in 2018 — it’s not clear what can be done to turn things around in a substantial way.
Casino was up month over and month slightly, and year-over-year at the pace we’ve come to expect. Online casino has seen revenue increase for the second month in a row after a new all-time high had been set in August, in excess of $19 million.
Overall, casino made up for the dip on the poker side, in what’s been a common theme throughout 2017. The only slightly worrying metric is the 20 percent YoY growth is the second worst we’ve seen for any month this year.
Winners and losers
In alphabetical order, by IGP holder:
- Borgata (Borgata, Party, Pala, MGM): It was a pretty good month for Borgata, which continued to hold down the No. 2 spot behind Golden Nugget. Revenue was up double digits in percentage terms both MoM and YoY. Even with the MGM-branded casino deployed (it is still is early), Borgata has not been able to eat into Golden Nugget’s lead or drastically increase its market share.
- Caesars (888, Caesars, Harrah’s, WSOP): Most operators seemed to tread water in November, and the Caesars operators were no exception. Both poker (+6%) and casino (+4%) were up on a MoM basis, normalized for the extra day in October. Casino increased just three percent YoY; overall, because of poker losses YoY, total Caesars revenue was flat. Both of those trends are not in line with the rest of the industry.
- Golden Nugget (Golden Nugget, Betfair, SugarHouse): Golden Nugget eclipsed $6 million for the fourth time in its history (and this year). Its massive growth year over year — 63 percent for November this time around — continues to be impressive.
- Resorts AC (Resorts, Mohegan Sun, PokerStars NJ): PokerStars, as discussed above, had a brutal month, down 16 percent YoY. But that was offset by gains on the casino side (+9% MoM, the best increase of any operator; +19% YoY). Combined poker-casino revenue put it at No. 3 in the market.
- Tropicana (Tropicana, Virgin): The Trop was the only operator to experience a MoM decrease in revenue (even normalized for November’s extra day). But it was still up about ten percent over last November.
Detailed numbers by operator / product
| ||Nov. 2017||Oct. 2017 (normalize for extra day)||Difference month over month (normalized)||Nov. 2016||Difference year over year
|Golden Nugget casino||$6,193,991||$5,940,178||4.27%||$3,802,276||62.90%