New Jersey online casinos saw revenue rebound 1.6% month-over-month to $159.1 million in May, making it the second-highest month on record, data from the New Jersey Division of Gaming Enforcement (NJDGE) show.
The vertical was up 19% year-over-year ($133.7 million) and came less than $4.2 million from setting a new all-time record, which was $163.2 million, set two months earlier, in March. Online casinos in the Garden State have generated at least $140 million in revenue for eight consecutive months.
May was only the third time since February 2021 when the platoon of operators on the Golden Nugget license led rival operators on the Borgata and Resorts licenses — with the previous occurrences taking place in April 2021 and January 2023.
Revenue data from NJDGE show the top three licenses — Borgata, Golden Nugget, and Resorts — are continuing to solidify their hold on the vertical. The trio accounted for 80.1% of the market in May, up from 79.7% in April. By comparison, the top three held 78.9% of the market one year ago.
Two months removed from finishing ahead of Borgata and Golden Nugget for the first time ever, Resorts stayed in third place for the second month in a row — a possible indicator that Resorts could be returning to the bronze-medal status it had for most of the stretch between 2015 and 2018, and again from mid-2020 until now.
May revenue was up 1.6% from April ($156.6 million) and was down 2.5% from the record month of March.
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Golden Nugget Hits New Record
The group of operators on the Golden Nugget license — which includes BetRivers Casino NJ, Betway, FanDuel Casino NJ, Golden Nugget Casino NJ, and Stardust Casino NJ — generated a record $43.5 million in revenue in May, up 4.4% from April ($41.7 million) and up 25.6% from one year ago ($34.6 million).
Operators on the Borgata license — BetMGM Casino NJ, Borgata Casino NJ, Pala, partycasino NJ, and Scores Casino — were a close second with $43.3 million in revenue, up 2% month-over-month ($42.4 million) and up 3.6% year-over-year ($41.8 million).
May was Borgata’s second-highest month for revenue. The operators set a record in November 2022 ($43.5 million).
Resorts was third in revenue, as mentioned previously. Operators on the Resorts license — Barstool, DraftKings Casino NJ, Mohegan Sun Casino, and PokerStars Casino NJ — generated $40.7 million in revenue in May, essentially flat from April ($40.8 million). But the Resorts group was up 39.7% from May 2022 ($29.1 million).
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Among the smaller online casinos in the Garden State, Tropicana — including Tropicana Casino NJ and Virgin Casino — led the field with $8 million in revenue. Operators on the Caesars license — 888casino NJ, Harrah’s, and WynnBET — followed with $7.7 million, enough for fifth overall.
Bally’s generated a record $6.8 million in online casino revenue in May, up 1.3% month-over-month ($6.7 million).
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Hard Rock and Ocean Resort were seventh and eighth for revenue, NJDGE data show. The former grossed $5.7 million in the vertical, while the latter made $3.4 million. Hard Rock’s online casino partners are bet365 and Unibet Casino, while Ocean Resort is partnered with Parx Casino, PlayStar, and Tipico.
While May was a flat month for Hard Rock, Ocean was down 27.3% month-over-month ($4.7 million).
