NJ’s online casino industry sets new all-time high with $ 118.7 million

When it comes to NJ online casino income, the monthly records don’t last long. Based on the latest The figures released by the state Games application division, the new number to beat is $ 118.7 million.

July’s total exceeds the previous record of $ 113.7 million set in March.

So much for the theory that online casino operators in NJ are experiencing a summer slowdown. In addition to setting a new monthly record, the cumulative total for 2021 now stands at $ 752.9 million, making the industry the first $ 1 billion per year like. close to a sure thing as we go.

For now, here are five reasons why July’s NJ internet gaming record might not last long.

1) Obviously the NJ Online Casino Market Is Not Slowing Down

We are now seven months away from 2021 (for DGE reporting purposes), and six of those monthss have seen the income of NJ online casinos exceed $ 100 million. The only month that didn’t was February.

Of course, the first four months and more of 2021 has been affected by capacity restrictions at Atlantic City casinos and restaurants. The reality is that the COVID-related land-based gambling closure has introduced more gamers to this alternative option, and the scenario continues to pay off for operators.

Some expected that once indoor restrictions were lifted at AC gambling halls, NJ’s online casino results would begin to stabilize, possibly falling below the 100 million plateau. of dollars. Well, here we are in the thick of the Jersey Shore summer season and clearly we are not. Fourth of July through Labor Day is considered the “main season”.

However, it now appears that NJ players prefer to play at their favorite land-based casinos as well as online. Just look at the numbers for July. Atlantic City slots and table games revenue reached $ 276.9 million. Another positive sign is that five of the nine properties performed better in July 2021 than in July 2019 (the last summer was not affected by the pandemic).

From an online perspective, July 2021 versus July 2020 is a more accurate comparison due to the lack of restrictions. This number from year to year is up 35.7% of $ 87.4 million.

Here’s the full breakdown of July NJ’s online casinos:

Licensee Total income Casino revenues Poker income State tax Local tax
Borgata $ 36,464,340 $ 35,726,923 $ 737,417 $ 5,469,651 $ 911,608
Atlantic City Gold Nugget $ 33,504,559 $ 33,504,559 $ 0 $ 5,025,684 $ 837,614
Resorts in Atlantic City $ 23,295,171 $ 22,672,508 $ 622,663 $ 3,494,275 $ 582,380
Caesars Atlantic City $ 10,194,267 $ 8,481,591 $ 1,712,676 $ 1,529,140 $ 254,857
Tropicana Atlantic City $ 6,988,798 $ 6,988,798 $ 0 $ 1,048,320 $ 174,720
Hard Rock Atlantic City $ 6,645,764 $ 6,645,764 $ 0 $ 996,865 $ 166,144
ocean $ 1,545,678 $ 1,545,678 $ 0 $ 231,852 $ 38,642
by Bally $ 46,518 $ 46,518 $ 0 $ 6,978 $ 1,163
Total $ 118,685,095 $ 115,612,339 $ 3,072,756 $ 17,802,765 $ 2,967,128

2) Borgata / BetMGM sets record online casino pace in NJ with $ 36.5 million

Borgata Hotel Casino & Spa remains Atlantic City’s market leader in almost all key categories. Total revenues from July games (combination of land-based, online and sports betting revenues) amounted to $ 106.6 million. To put this number in perspective, Hard Rock Hotel & Casino Atlantic City was next closest with $ 55.5.

Focusing on the online casino part, licensee Marina District (run by BetMGM and Borgata online casino) again claimed the top spot with $ 36.5 million. This is a new all-time monthly record for any licensee, slightly exceeding March’s $ 36.2 million. And if we compare July 2021 to July 2o20, Borgata is on the rise revealing 138.4% ($ 15.3 million). Take MGM-owned property out of the equation and the overall revenue for the NJ online casino is barely $ 82 million.

In the first seven months of 2021, Borgata reported just under $ 227 million in iGaming revenue (up 137.8%).

Suddenly, the idea that a license holder has a Over $ 40 million per month does not seem so unrealistic. The “when” as opposed to the “if” is the bigger question.

3) GNOG’s performance is also hard to ignore

Prior to March, Golden Nugget Online Gaming (run by Golden Nugget online casino) had a firm grip on the No.1 position. Despite losing one spot, the license holder continues to post solid numbers, with the most recent total standing at $ 33.5 million. So there is only a difference of about $ 3 million between the two market leaders.

Going forward, there are a few wild cards to consider.

On the one hand, GNOG is known for its forward-thinking approach, whether it’s launching new exclusive slot titles or improving the table game product. This includes the expansion of the live distribution studio located inside the Atlantic City Gold Nugget. The company announced in its latest earnings call that the 1,800 square foot expansion is targeted for third quarter completion.

The other factor is the collection of skins operated under the GNOG license, one of them being FanDuel Casino. FanDuel is of course the market leader in sports betting in NJ. The intriguing twist is last month the company rolled out a standalone NJ casino app. Before that, players could access table games and slots through the FanDuel Sportsbook app.

But with the NFL betting season just around the corner, could the FanDuel Casino brand soon become a bigger contributor to the GNOG online casinos pie?

It’s too early to tell, as August will be the first full month for the FanDuel Casino live app. And unlike neighboring Pennsylvania, the NJDGE’s monthly reports do not include operator outages.

To find out whether or not the new offering will impact GNOG’s overall results in NJ, check back in November and December.

4) Resorts Digital, DraftKings still going strong, set to grow

Digital stations (DraftKings, PokerStars, Mohegan Sun, and Resorts) placed far third behind Borgata and GNOG with $ 23.3 million for July. To put that number into perspective, it’s more than the combined monthly total of Caesars Interactive, Tropicana, and Ocean Casino Resort. In addition, it exceeds the $ 18.6 million that Resorts AC has earned from slots and table games.

And comparing it to the same period in 2020, Resorts Digital is up 29.2%, good enough to rank second behind Borgata. Since the start of the year, Resorts Digital’s online casino activity has grown by more than 41% (just under $ 151 million). Expect that number to increase as DraftKings gears up for its biggest season of the year. NFL bettors have been known to try their hand at blackjack and craps while they wait for sports betting to play out.

Now for the surprising twist. Casino stool is the fifth and final skin to be operated under the Resorts Digital license. The soft launch or test phase started on Thursday and is expected to last until early next week. Time will tell how long it will take for the Barstool Casino product to build up a Garden State customer base.

5) Bally’s AC Casino and PointsBet are heating up

Around the same time last month, July 22 to be exact, PointsBet Casino went live in Garden State with an extremely limited game library. So basically we’re talking about nine full days of activity. And outside of the starting gates, players could only access the games through a web browser.

The new offer is the first skin launch under the new Atlantic City from Bally Licence. However, the $ 46,518 in revenue really didn’t factor in July’s overall performance when talking about $ 118 million. Of course, PointsBet and other skins launched via Bally’s (Bally bet included) could play a bigger role in the coming months when NJ’s sportsbook handful will likely break through the billion-dollar-per-month mark. The cross-selling model has proven to be extremely effective in the Garden State and other jurisdictions.

The timing of the launch of the Bally Bet app in NJ is still unknown. The operator, no matter when it takes place, will need time to promote their brand and get customers to sign up. The same theory holds true for any additional skins released under the AC license from Bally this year.

However, an additional $ 1-2 million in monthly revenue from NJ’s online casinos makes that $ 120 million bar well within reach. We will consider this one as a developing scenario.

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