Another Great Month in New Jersey for Online Gambling
Summary: February totals are in and New Jersey saw yet another successful month when it comes to their online gambling industry.
It seems that every month, the state of New Jersey continues to surprise us with their online gambling industry. The industry continues to grow and expand, continually reaching new heights and setting new records when it comes to online gambling in the United States. The Division of Gaming Enforcement recently revealed the revenue reports for February with the state bringing in just over $31 million for the month.
Overall Totals Still Very Impressive
In February, a 28 day month, the state brought in a total of $31.75 million. The majority of the amount was produced by New Jersey online casinos, $29.9 million to be exact. Online poker gaming contributed $1.8 million. With the monthly total, the state set their second highest total for any month going back as far as the launch date in 2013.
The online casino earnings were the second highest of all time as well. For the six month running, the state was able to see the combined total involving online poker and casino gaming come in at $25 million or more. When compared to last February, the state was up a whopping 44%!
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For the month, the Golden Nugget had the top operating online casino, earning $10.7 million. The earnings marked the third time in a row that the brand was able to reach the eight figure range. Resorts was up in January and continued their reign as the second place finisher, this time earning $6.7 million. The increase for the brand has been attributed to the launch of a casino by DraftKings.
When looking at the online gaming totals as a whole, with online sports betting included, the state was able to earn just over $44 million.
Looking at the numbers individually, online casino revenues were actually down from January at around 5.6%. Online poker also saw a decrease from month to month at 3.8%. However, both were up for the year. Online casino gaming revenues increased by 48.1% while online poker was up at 2.1%.
It is interesting to point out that these amazing numbers took place during the shortest month of the year. February of course usually has only 28 days so the fact that these numbers were so high is quite impressive.
Looking at the individual operators, the Borgata was able to stay in their $4 to $5 million range, earning $4.5 million for February. Caesars was not far behind with $4.3 million in earnings. They finished in the fourth place spot for the month.
Hard Rock continues to be at the bottom, earning only $1.7 million for the month. The brand is still in the early stages so they should continue to see an increase as the months go by. Ocean Resort pulled up the rear as usually, they earned only $483,508 for the month. The Tropicana was the only casino brand to stay relatively flat, earning $3.5 million for the month.
The state is already setting up for a quality year with just the first two months of earnings. It would not be surprising to see the online gambling industry continue to hit these high revenue numbers. All eyes are on the state and their success as several other states are on the verge of launching or legalizing online gaming.
Pennsylvania should start their industry soon with West Virginia and Michigan among states that are considering online gambling legislation. Hopefully, we will see a trend where more states will show interest in iGaming and the industry continues to grow as a whole across the nation.