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 license — BetMGM Casino NJ, Borgata, Pala, and partycasino NJ — grossed 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 Tropicana — collectively 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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