A shortened month was the only thing that kept online gambling operators in New Jersey from posting another record-setting report in February.
NJ online gambling revenue came to $31.75 million across the 28-day span, just off the all-time high set last month. Per-day revenue actually surpassed the pace established in January.
The majority of that win ($29.9 million) came from online casinos, with online poker accounting for $1.8 million of the total.
Some highlights for February:
- Online gambling revenue of $31,748,726 is the second highest for any month since launch.
- Standalone online casino revenue of $29,938,129 is also second most all-time.
- Combined casino/poker revenue surpassed $25 million for the sixth consecutive month.
- Combined revenue was up 44 percent compared to last February ($22 million).
Other February 2019 highlights
- The NJ market continues to belong to Golden Nugget. Its online casino won $10.7 million in February, its third consecutive months in eight-figure territory.
- Resorts proved that its big jump in January was no fluke. It earned the silver medal once again with $6.7 million in February revenue, largely thanks to the recent launch of DraftKings Casino.
- Online poker revenue has been floundering for some time now, and February was no exception. NJ online poker sites collected $1,810,597 in rake for the month, up a couple points year-over-year.
- Including online sports betting, the internet was responsible for $44.6 million in revenue — about 23 percent of the total ($197 million) for the whole NJ gambling industry.
NJ online gambling revenue breakdown
Revenue / month-over-month change / year-over-year change:
- Total: $31.75 million / -5.5% / +44.4%
- Online casinos: $29.9 million / -5.6% / +48.1%
- Online poker sites: $1.8 million / -3.8% / +2.1%
Again, these are record numbers when normalized for the short month. February has 9.7 percent fewer days than January.
NJ online casinos have never been healthier, posting new revenue records just about every single month. As it did for NJ sports betting, the addition of DraftKings to the online casino market has made an immediate impact on the numbers.
For all their struggles, NJ online poker sites are actually trending slightly upward over recent months. A normalized February marks the third consecutive period of growth, and year-over-year numbers have inched above even, too.
That being said, online poker revenue is still hovering around the same level as they were in November 2014.
NJ online sports betting revenue
- Total NJ sports betting: $12.73 million
- Online sports betting: $12.85 million
No, your eyes aren’t playing tricks on you. Online revenue was higher than the total sports betting revenue across all channels.
NJ online sports betting platforms won $12,851,283 in February, while land-based sportsbooks posted a small loss for the month. Primarily driven by the Super Bowl, total betting handle surpassed $320 million.
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NJ online gambling winners and losers
- Borgata (Borgata, MGM, Pala, partypoker NJ): Excluding an especially profitable December, Borgata revenue has fallen between $4-5 million for 12 consecutive months. The network has not really grown with the market around it, but it won another $4.5 million and change in February.
- Caesars (888, Caesars, Harrah’s, WSOP NJ): The Caesars family of platforms is holding its own, posting gains across most of the recent monthly reports. Those gains have been small, though, and the group finished February in fourth place, just off the podium with $4.3 million in revenue.
- Golden Nugget (Betfair, Golden Nugget, SugarHouse): Golden Nugget continued its reign atop the market with $10.7 million in February revenue. Perhaps there is a small chink appearing in the armor, though? The Nugget was the only NJ online casino that posted a month-to-month decrease in the normalized report.
- Hard Rock (Hard Rock): In absolute terms, Hard Rock is second from the bottom on the February report. Everything appears to be just fine, though. The product is still in its infancy, its revenue is trending consistently upward, and it posted a win of $1.7 million last month.
- Ocean Resort (Ocean Resort): Ocean Resort is at the very bottom. Although it is a similarly young entry into the NJ online casino market, its outlook is less rosy than its new Boardwalk neighbor. Ocean eked out just $483,508 in February revenue, and there’s some uncertainty brewing over the future of its land-based casino.
- Resorts AC (DraftKings, Mohegan Sun, PokerStars NJ, Resorts): Thanks to its new partner, Resorts has established itself as the clear silver medalist among NJ online casino networks, churning out $6.7 million in February revenue. PokerStars NJ, however, is struggling in the online poker market. Although it still sits in the middle of the three-dog pack, it posted the largest monthly and annual losses on the board.
- Tropicana (Tropicana, Virgin): Perhaps no NJ operator has been as unremarkable as Tropicana of late, though that’s not necessarily a bad thing. Its revenue continues to hover around $3.5 million in each reporting period — mostly flat and holding steady from month to month.
Detailed numbers by operator/product
| ||Feb. 2019||Jan. 2019||Change month to month||Feb. 2018||Change year to year
The full report is available here.