DraftKings Gaining Ground with Online Casino Operations in New Jersey
Summary: DraftKings may be known for their sports betting operations, but their online casino in New Jersey is quickly gaining a foothold.
For years now, DraftKings has offered sports fans with the ability to enjoy daily fantasy sports. Once sports betting was opened up to every state in the US, the company wasted no time in getting started in the new industry. Once the DraftKings Sportsbook was live in New Jersey, the company soon started offering casino gaming. Now that casino games have been up and running for a few months, the DraftKings casino offering is now beginning to gain a stronghold within the online casino segment in the state.
DraftKings began their foray into casino gaming online by offering blackjack tables via their sportsbook. The option was offered on Android and iOS devices, with more table games, slots and video poker launched soon after.
By February, DraftKings decided to launch an app specifically for casino gaming. The company partnered with Evolution Gaming to launch the application, featuring baccarat, roulette, blackjack and more. Evolution is known for their live dealer games, so the DraftKings Casino also offers live gaming online.
The company has seen success early and seem to be gaining ground by taking their fair share of the liquidity when it comes to the overall online gambling market in New Jersey.
Immediate Impact on the Market
DraftKings Casino is able to operate in New Jersey due to a partnership with Resorts Atlantic City. DraftKings operates via the Resorts gaming license. The operator has had a solid effect on the overall numbers for Resorts, a company that also includes Resorts Online Casino, Mohegan Sun Online Casino and PokerStars NJ.
Resorts has seen a nice increase in overall gaming revenues for the online sector thanks to the launch of the DraftKings Casino. By the time DraftKings was fully functioning, they had helped push Resorts total monthly numbers from just over $3 million to close to $6 million.
On average, Resorts was pulling in around $3 million in online casino revenues each month from all licensees combined. For this year, the number has reached the $5.9 million range. This means that DraftKings is contributing around $3 million in additional monthly revenues.
This could be because the DraftKings name is well-known. Players have heard of the brand due to daily fantasy sports and possibly even taken part in such gaming. This would make players more comfortable to take part in online casino gaming with the brand.
Research provided by Eilers & Krejcik Gaming via Online Poker Report shows that DraftKings has already been able to capture 9% of the online casino revenues in New Jersey. This is impressive considering the fact that the online casino market was already matured, having been in operation for a five year time frame.
The DraftKings brand also only offers a small amount of content. The slot category doesn’t even have ten games. Most likely, the brand is seeing a bleed over from the sports book to the online casino sector. Either way, the brand is helping to push revenues for Resorts even further, increasing New Jersey’s strong hold as the top state when it comes to online gambling.