New Jersey Online Casino Revenue Hits Record $135.3 Million

Online poker operators grossed $2.6 million in January, marking the 23rd consecutive month of revenue above $2 million.
NJ Atlantic City Boardwalk is seen on a sunny day with blue skies. A street stretches into the distance lined with shops and casinos. to the right is the beach. AC is an iconic gambling city, famous for its casinos. NJ Online Casinos are also very popular
February 24, 2022

Online casinos in New Jersey kicked off 2022 by grossing a record $135.3 million in January, while online poker and sports betting posted month-over-month increases in the single digits, data from the New Jersey Division of Gaming Enforcement (NJDGE) show.

The high mark in the online casino revenue represented a 3.4% increase from December 2021 ($130.9 million). The vertical was up nearly 34% year-over-year ($101 million) and was 154% higher than January 2020 ($53.3 million). The vertical has also exceeded $100 million in revenue every month since March 2021.

Operators on the Borgata casino licenseBetMGM Casino NJ, Borgata, Pala, and partycasino NJgrossed a record $38.3 million and held 28.3% of the market in January, up from $36.2 million and 27.7% the month before.

Golden Nugget — in partnership with FanDuel Casino NJ, SugarHouse Casino, and others — also had a record month by posting $36.5 million in January, but it wasn’t enough to overtake Borgata. Revenue was up from $36 million in December. Golden Nugget’s market share in the vertical slipped to 27%, down from 27.5%.

Resorts — which is partnered with Stars Casino, DraftKings Casino NJ, Barstool Casino, and others — grossed $32.3 million, a whisker above the $32.2 million they made in December.

The five smaller online casino operators —- Bally’s, Caesars, Hard Rock, Ocean Resort, and Tropicanacollectively generated $28.3 million in revenue in January and represented 20.9% of the market. Both were improvements from December, when the quintet combined for $26.4 million and a 20.2% stake, according to the NJDGE.

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Meadowlands’ Sports Betting Market Share Eclipses 60%

Revenue from online sports betting bounced back slightly in January, two months removed from the vertical’s record of $106.9 million in November.

January revenue was $59 million, up 6.8% from December 2021 ($55.2 million). The vertical was down 20.5% year-over-year ($74.2 million) but was up 26.4% from January 2020 ($46.7 million) — illustrating the dual effects of disruptions caused by the pandemic and the growing popularity of online sports betting.

Meadowlands Racing & Entertainment — whose sportsbook partners are FanDuel Sports, PointsBet, and SuperBook – continued to dominate the vertical and boosted its market share to 60.1%, its highest since June 2021 (61.4%) and up from 50% in December. The racetrack had $35.5 million in revenue in January, up from $27.6 million the previous month.

Resorts, which operates its own branded sportsbook but is also in a partnership with DraftKings Sports and FOX Bet NJ, was a distant second for revenue at $10.2 million, down from $12.4 million. Its market share slid to 17.2%, its lowest point since September 2020 (12%).

Another casino with its own online branded sportsbook, Borgata Sports NJ, grossed $7.4 million in January, up from $6.5 million in December. Borgata, which is also partnered with BetMGM NJ, grew its market share to 12.6%, up from 11.8%.

Barstool Sportsbook, which had a real shot at overtaking Borgata for third place just three months ago, slid for a second consecutive month and hit $2.4 million in January, down from $3.2 million in December. The Barstool brand, which is owned by Penn National launched its NJ sportsbook in the middle of August last year, on the license of Freehold Raceway.

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NJ Online Poker Climbs for Second Consecutive Month

Online poker revenue grew to $2.6 million in January, marking the 23rd consecutive month where the vertical grossed more than $2 million.

But revenue data continued to whipsaw from the effects of the pandemic. NJ online poker was up 9.4% month-to-month ($2.3 million) but was down 6.8% year-to-year ($2.7 million) while, at the same time, was up 39.6% from January 2020 ($1.8 million).

WSOP NJ, on the Caesars license, led the vertical in January with $962k of revenue, up from $849k. Its market share increased to 37.6% in January, up from 36.3% in December 2021.

The trio of poker operators of the Borgata license — BetMGM Poker NJ, Borgata Poker NJ, and partypoker NJ — was in second place for revenue with $849k, up from $803k in December.

Weirdly, Borgata’s revenue total for January was only $94 less than what WSOP grossed the month before. But Borgata didn’t keep pace with its rival and its market share slipped to 33.2%, down from 34.4%.

PokerStars NJ, on the Resorts license, was in third with $747k of revenue, up from $686k. Market share was flat month-to-month at 29.2%.

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