August NJ Online Casino Revenue Hits $ 113.2 Million, No. 3 All-Time
August numbers released and NJ online casino revenue streak 100 million performances remains intact. The New Jersey Gaming Law Enforcement Division published on last digits last week, and August’s online gambling total was $ 113.2 million, which is good enough for third place on the all-time chart (more details below). below).
This makes seven out of eight months in which the NJ online casino industry reported monthly revenue of $ 103.7 million or more. Add three new all-time brands and 2021 literally continues to be a year for the record books.
To put the most recent performances in perspective, August 2020 the revenues of online casinos have reached $ 87.8 million (another short-lived disc). That’s an increase of 29% per year.
The biggest problem here is that it’s pretty much a guarantee that Garden State will surpass $ 1 billion in online casino revenue before winter hits, most likely as early as October. That being said, here are five reasons why NJ online casinos will remember this year for a long time.
1) What happened to the $ 90 million months?
Before the CEO releases the monthly NJ online casino revenue reports, some people enjoy playing the guessing game. It was not that long ago that the forecast in the range of $ 80 million to $ 90 million seemed quite right. And at the time, a very big deal.
This scenario has only happened once so far this year, when February’s total stood at only $ 93.8 million. Keep in mind that February is two to three days shorter than the other 12 months of the year. Who knows if the industry will ever see such a low number again.
Think about it. Since those numbers were released, NJ’s online casinos have set two more all-time records. The premiere took place in March with $ 113.7 million. The brand was only maintained until July, when the industry declared $ 118.7 million. Then there’s the August total of $ 113.2 million. The remaining months fluctuated between $ 103 million and $ 108 million.
And since September marks the start of the NFL betting season, don’t be surprised if one or two more records fall in the next few months. Remember that the NJ sports betting industry is probably will reach $ 1 billion in monthly processing maybe as early as this month. Many of these same bettors enjoy playing blackjack, craps, poker, and slots at the online casino of their choice while waiting for those bets to settle.
In addition, the operators will cross-sell in which players can win free bets and casino credits amounting to a win-win at all levels.
As for another $ 90 million month of NJ online casino revenue to come this year, don’t bet on it. The biggest question is how high will the bar be raised before the industry hits its plateau?
The idea that NJ’s online casinos make $ 120-125 million in a month doesn’t seem as crazy as it used to be.
|Licensee||Brands)||Total income||Casino revenues||Poker income||State tax||Local tax|
|Borgata||Borgata | Party | Pala | BetMGM||$ 37,292,741||$ 36,492,628||$ 800,113||$ 5,593,911||$ 932,319|
|Atlantic City Gold Nugget||gold nugget | Betfair | Sugar house | Betway||$ 29,782,341||$ 29,782,341||$ 0||$ 4,467,351||$ 744,559|
|Resorts in Atlantic City||Tourist resorts | Mohégan | PokerStars | DraftKings||$ 21,622,865||$ 20,944,382||$ 678,483||$ 3,243,429||$ 540,572|
|Caesars Atlantic City||Caesars | Harrah’s | 888 | Betwynn||$ 9,893,194||$ 8,928,376||$ 964,818||$ 1,483,979||$ 247,329|
|Tropicana Atlantic City||Tropicana | Virgo | Caesars||$ 6,988,082||$ 6,988,082||$ 0||$ 1,048,212||$ 174,702|
|Hard Rock Atlantic City||Hard rock | Unibet | bet365||$ 6,026,051||$ 6,026,051||$ 0||$ 903,908||$ 150,651|
|ocean||Ocean | Parx||$ 1,579,051||$ 1,579,051||$ 0||$ 236,858||$ 39,476|
|Atlantic City from Bally||PointsPari||$ 46,376||$ 46,376||$ 0||$ 6,956||$ 1,159|
|Total||$ 113,230,701||$ 110,787,287||$ 2,443,414||$ 16,984,604||$ 2,830,767|
2) BetMGM / Borgata always set records
The performance of the BetMGM Online Casino (with sister brands Borgata and Party which also fall under the BetMGM corporate umbrella) remains a key reason for the success of 2021.
Borgata, which includes all brands operating under its license, said $ 37.3 million August turnover. Mark it as a new NJ record for any online casino licensee. This slightly exceeds the previous best of $ 35.7 million fixed in July. But this trend of $ 30 million per month becomes common in January and February ($ 28.7 million and $ 24.9 million, respectively) are the only two months of this year that Borgata did not earn more than $ 30 million in online casino revenue in New Jersey.
As a result, Borgata’s internet gaming revenue is up 129.3% during the first eight months of the year ($ 264.3 million versus $ 115.2 million).
The pace is not expected to slow down over the next four months.
3) These days a $ 29.7million month is far from won, but a big milestone is approaching
Remember all those months when the online casino Golden Nugget and the other GN licensed brands dominated the market? Well, technically speaking, the licensee is still performing extremely well.
We speak to the rhythm of $ 29.8 million for August. The result is not as strong as July’s record performance of $ 33.5 million, but still a significant number. Resorts Digital (led by DraftKings Casino and its self-branded app) finished far third with $ 21.6 million.
However, Golden Nugget is approaching a very milestone and it’s pretty much guaranteed to get there once the September numbers are official. The license holder will soon be the first to cross the billion dollar mark for the all time income of the NJ online casino. We are talking about one of the original operators which was launched in 2013.
Until August 2021, GN’s all-time count is $ 998.7 million.
The next closest license holder is Borgata with $ 793.6 million.
So far for 2021, GNOG, which also includes the FanDuel, PlaySugarHouse, Stardust, BetAmerica, and recently added Betway marks won $ 245.3 million.
Here’s a look at the totals for all time:
|Licensee||Total income||Casino revenues||Poker income||State tax||Local tax|
|Atlantic City Gold Nugget||$ 998,740,979||$ 998,740,979||$ 0||$ 149,811,147||$ 24,968,525|
|Borgata||$ 793,591,825||$ 719,574,092||$ 74,017,733||$ 119,038,773||$ 19,839,797|
|Resorts in Atlantic City||$ 607,978,083||$ 556,354,093||$ 51,623,990||$ 91,196,712||$ 15,199,454|
|Caesars Atlantic City||$ 418,735,588||$ 336,480,629||$ 82,254,959||$ 62,810,337||$ 10,468,389|
|Tropicana Atlantic City||$ 346,316,338||$ 346,316,338||$ 0||$ 51,947,450||$ 8,657,908|
|Hard Rock Atlantic City||$ 133,167,026||$ 133,167,026||$ 0||$ 19,975,055||$ 3,329,175|
|ocean||$ 28,015,496||$ 28,015,496||$ 0||$ 4,202,324||$ 700,387|
|Trump Square||$ 7,644,624||$ 7,644,484||140 $||$ 1,146,694||$ 191,116|
|Taj Mahal||$ 6,032,943||$ 5,470,434||$ 562,509||$ 904,941||$ 150,824|
|by Bally||$ 92,894||$ 92,894||$ 0||$ 13,934||$ 2,322|
|Total||$ 3,340,315,796||$ 3,131,856,465||$ 208,459,331||$ 501,047,368||$ 83,507,896|
4) The NJ Online Casino Market Is Still Expanding
For those who think the NJ’s online marketplace is at full capacity, guess again. Even with big names like BetMGM and Golden Nugget claiming large market shares, there is still room for additional operators.
Each license holder is allowed up to five online casino partners. GNOG and Resorts Digital each recently filled their respective remaining niches last month.
Betway is now available through the Golden Nugget license. And here Casino stool, which was granted marked access through Resorts. Barstool Sportsbook, however, falls under the Tour in full ownership Licence.
Believe it or not, more are yet to come. Remember Atlantic City from Bally is getting its feet wet with the NJ online casino industry. PointsBet Casino is the only brand currently operating under its license. For the month of August, this represents a grand total of $ 46,376.
Bally bet is expected by the fourth quarter. Expect a timeline update once Bally’s Corporation completes its $ 3.4 billion acquisition of Games, a London-based online game and software development company.
5) Reality of 2021: $ 1 billion in online casino revenue in NJ remains on target
By combining all of these results, the table is set for the inevitable big news. Soon, most likely when the October numbers are released, the Garden State will exceed $ 1 billion in revenue. We’re just talking about internet games. Not NJ’s sports betting income or Atlantic City land-based income.
The current cumulative total is $ 866.1 million. And this number is up almost 45% from the same period in 2020.
Yes, this will be another industry first. And talk about perfect timing. October figures are expected to be released on November 17. eighth birthday follows four days later.
No matter when the billion is reached, New Jersey continues to reap the rewards. Out of over $ 3.3 billion earned so far, the share of state tax is over $ 501 million.