NJ Online Casino Revenues Slip, But Still Near Record High in April

Data show competition getting tighter between the three biggest (and five smallest) groups of online operators in the Garden State.
NJ Online Casino Revenues Slip, But Still Near Record High in April
May 23, 2023

One month after setting an all-time record for revenue, New Jersey online casinos saw revenue slip 4% to $156.6 million in April, a mark that, while down, is still good enough for the vertical’s second-best month since launch.

Data from the New Jersey Division of Gaming Enforcement (NJDGE) show online casino gaming was up 16.3% from one year ago ($134.6 million). The vertical also had a monthly revenue of at least $140 million for the seventh consecutive month — illustrating the strength of the market despite lingering inflation and fears of a recession.

Online casino gaming grossed a record $163.2 million in March.

NJDGE data also show that operators on the top three licenses for revenue are tightening their control of the market. One year ago, the top operators held 78.5% of the market — their share has grown more than one full percentage point to 79.7% in April.

April was another month where operators on the top three land-based casino licenses were in a dogfight for the top spot overall — while five others were engaged in their own contest for supremacy amongst the smaller operators.

Both competitions were also super tight contests — less than $3.5 million separated the smaller operators, while the big three were only apart by $1.6 million.

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Resorts’ Hold on Top Spot is Short-Lived

Operators on the Resorts license — Barstool, DraftKings Casino NJ, Mohegan Sun Casino, and PokerStars Casino NJ — had topped their rivals on the Borgata and Golden Nugget licenses in March, but they couldn’t hold on and slipped into third place in April.

Resorts revenue was $40.8 million in April, down 7.1% from a record $43.9 million set in March. But Resorts is doing well year-over-year — NJDGE data show operators on its license saw revenue increase 43.3% over one year ago ($28.5 million).

Borgata’s online casino operators, which led the vertical for most of 2021 and all of 2022, took the top spot back from Resorts in April.

The Borgata group — BetMGM Casino NJ, Borgata Casino NJ, Pala, partycasino NJ, and Scores Casino — grossed $42.4 million in April, down 1.7% month-over-month ($43.1 million) but up 8.4% year-over-year ($39.1 million).

In second place overall were operators on the Golden Nugget license, which includes BetRivers Casino, Betway, FanDuel Casino NJ, and Stardust Casino NJ.

Team Golden Nugget had $41.7 million in revenue in April, down 2.5% from the record they set the month prior ($42.7 million). Golden Nugget was up 9.2% from the year-ago month ($38.1 million).

Ocean Resort Has Record Month

Among the smaller online casinos, operators on the Caesars license — 888casino NJ, Harrah’s, and WynnBET — led the group with $8.1 million in revenue.

Like Golden Nugget and Resorts, Bally’s — partnered with PointsBet and Virgin Casino — saw record revenue in March but had to settle for second-best revenue one month later. It missed setting a new record for monthly revenue in April by just $63,770.

Bally’s had $6.7 million in revenue in April. It also managed to slip ahead of Tropicana for fifth place overall — by just $108,034.

Tropicana was in sixth place with $6.6 million in revenue in April, followed by Hard Rock Casino in seventh and Ocean Resort in eighth.

Hard Rock and its partners grossed $5.7 million in April, while Ocean Resort and its counterparts made a record $4.7 million. Hard Rock’s online casino partners are bet365 and Unibet Casino, while Ocean Resort is partnered with Parx Casino, PlayStar, and Tipico.

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