Editor’s note: New Jersey releases the gross revenue numbers for its regulated online poker sites and NJ online casinos each month, generally about two weeks after the close of the month.
New Jersey online gambling revenue came flooding in at all-time record levels in October.
Operators combined to earn more than $26.75 million for the month across poker and casino platforms, besting the previous high set in July. The online casino vertical alone accounted for more than $25 million of that total.
Some of the October highlights include:
- Online gambling revenue of $26,753,878 represents the highest monthly total since launch in 2013.
- Standalone online casino revenue of $25,100,132 is also the most for any month — and by nearly a million dollars.
- Total revenue, including online poker, exceeded $20 million for the 20th consecutive month.
- Total revenue was up more than 30 percent compared with last October ($18.6 million).
Other October 2018 highlights
- Golden Nugget continues to drive the majority of the growth for the entire industry. Its October revenue of $9,674,550 was another new personal and state record.
- No other operator reached $5 million in revenue this past month (nor any previous month, for that matter). Borgata was once again the closest, booking a win of about $4.4 million.
- Hard Rock AC ticked off a milestone in its fourth full month of operation. Its October online casino revenue pipped into seven figures at $1,016,822 and is rising.
- October also writes another chapter in the story of two verticals diverging. While online casino revenue soars, online poker revenue of $1,653,746 fell near the all-time low set just last month.
- Resorts, however, did post the lone month-to-month gains in the poker column. PokerStars NJ slid back ahead of WSOP NJ / 888 Poker for the first time since multistate poker expansion in May.
Revenue/month-over-month change (normalized for extra day in October)/year-over-year change:
- Overall: $26.75 million / +0.5% / +30.1%
- Casino: $25.1 million / +0.6% / +34.7%
- Poker: $1.65 million / -0.6% / -14.5%
Again, it’s hard to ignore the fact that the verticals are trending sharply in opposite directions over the past year.
Normalizing September to compare apples to apples, October online poker revenue was the lowest in history. Of the three networks, Caesars is the only one that is showing growth in 2018. Both PokerStars (-18 percent) and the Borgata network (-35 percent) are well off their October 2017 numbers.
Online casino, on the other hand, has not yet hit its ceiling. Revenue reached higher than ever, with each operator posting consistent and substantial growth across the board.
Overall, it’s pretty hard to complain about the health of the market. Even factoring in the struggling poker vertical, total NJ online gambling revenue is up 30 percent from last year.
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Winners and losers
In alphabetical order, by license holder:
- Borgata (Borgata, PartyPoker, Pala, MGM): The fall edition of the Garden State Super Series propped up online poker revenue a bit, but it still showed a month-to-month decline. Although it retained the silver medal, online casino revenue tailed off a bit in October, too.
- Caesars (888, Caesars, Harrah’s, WSOP): The WSOP poker network showed the biggest month-to-month decrease, but that’s mostly due to an inflated September. While down this month, total Caesars’ online gambling revenue also shows the most significant year-to-year gains on the board — apart from the next operator on this list, of course.
- Golden Nugget (Golden Nugget, Betfair, SugarHouse): Nobody is going to touch Golden Nugget’s revenue for a while. It was already the runaway market leader before reaching a new high-water mark in October. Its $9,674,550 bottom line is dangerously close to another big milestone, representing more than a third of the industry total.
- Hard Rock (Hard Rock): It’d be hard to complain about the first four-plus months of digital operations for Hard Rock, too. Revenue grew by more than 50 percent this month to reach the million-dollar mark for the first time.
- Ocean Resort (Ocean Resort): The same goes for Ocean, though it is still bringing up the rear for the group. Its revenue increased an impressive 78 percent from September, though, climbing close to $600,000.
- Resorts AC (Resorts, Mohegan Sun, PokerStars NJ): Total revenue for Resorts digital is just about flat in both monthly and annual comparisons. It drives the smallest share of the market total among the established networks, consistently churning out about $3.5 million in monthly revenue.
- Tropicana (Tropicana, Virgin): Tropicana is just off the podium in fourth place in the current market, with revenue up about 7 percent in both comparisons.
Incidentally, the numbers for NJ sports betting were published this week, too.
Detailed numbers by operator/product
| ||Oct 2018||Sept (-1 days)||Difference month over month (NORMALIZED)||Oct 2017||Difference year over year
|Golden Nugget casino||$9,674,550||$9,593,598||+0.84%||$6,138,184||+57.61%
|Hard Rock casino||$1,016,822||$670,428||+51.67%||$0.00||N/A
|Ocean Resort casino||$595,293||$334,703||+77.86%||$0.00||N/A