The success of Golden Nugget is one of the most surprising stories in the five-year history of the New Jersey online gambling industry.
With Pennsylvania building towards its online gambling launch, it will be interesting to see if a PA online casino operator can dominate the market the way Golden Nugget is dominating in New Jersey.
Golden Nugget is a small (by Atlantic City standards) casino that ranks towards the bottom of the pack when it comes to land-based casino revenue. But when it comes to NJ online casinos, it’s head and shoulders above its competitors.
Golden Nugget consistently generates more monthly online casino revenue than the next two operators combined. It’s also the only online casino to generate more than $5 million in revenue in a single month, a feat it has accomplished in each of the last 16 months.
As impressive as that is, it barely scratches the surface of GN’s market supremacy.
Not only has the Golden Nugget online casino posted 16 straight months of at least $5 million in revenue, it surpassed $6 million in March 2017; $7 million in January 2018; and $8 million in March 2018.
Here’s how Golden Nugget stacks up against its online casino competitors over the last year-plus.
*Chart does not include online poker revenue.
Notice that Golden Nugget is not only generating more than twice as much online casino revenue as its competitors, but its growth trend is the steepest.
As such, Golden Nugget has a 35 percent market share, with online gaming generating roughly 40 percent of its total casino revenue.
Here are some of the reasons that have propelled Golden Nugget to the top of the NJ market:
Unfortunately, it will be difficult for a Pennsylvania online casino to duplicate what Golden Nugget has done in New Jersey.