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New Jersey saw its land-based casino revenue grow by 13% to

edit:casino time:2019-01-06
Shrinking Online Poker Vertical

Meanwhile, poker set an unenviable record of its own after contracting by 13.7% year-on-year to just $1.56 million, reaching a new all time low for the segment. It was also down by 2.4% on the previous month. When New Jersey first launched legal online gambling, poker commanded a roughly 30% share of overall revenues, but now that figure has shrunk to a paltry 6%.

NJ’s Online Gambling Leaders

Leading the market in terms of revenue in November was the Golden Nugget (Betfair, Golden Nugget, SugarHouse) with a massive $9,208,190 in revenue from its online casino only operation, up by 48.7% year-over-year. A long way back in second place was Borgata (Borgata, MGM, Pala, partypoker) with $4,795,354 (+12.36%), followed by Caesars (888, Caesars, Harrah’s, WSOP NJ) on $3,926,834 (+16.97%), Resorts AC (Mohegan Sun, PokerStars NJ, Resorts) on $3,573,027 (+1.28%), and Tropicana (Tropicana, Virgin) on $3,394,184 (+4%). Meanwhile, bringing up the rear was the state’ two newest operations, namely the Hard Rock casino on $1,314,597, and Ocean Resort on $731,887.

Caesars in Atlantic City

For the first 11 months of this year, online casino revenue is now higher by 23.5% at $250 million compared to the same period in 2017. As a result, the vertical now accounts for around 94% of New Jersey’s overall online gambling market.

Land-Based Revenue Up 13%

Last month, New Jersey saw its land-based casino revenue grow by 13% to $209.2 million, with slots generating $148.4 million and table games $60.8 million. However, the figure increases by 25% year-on-year to $257.4 million once internet gaming is included in the numbers. Nevertheless, the addition of two new casinos is having a dramatic effect on the profitability of the state’s seven other operations.

New Jersey’s online gambling market generated $26.94 million in November, marking a 30.7% improvement versus the same month in 2017. Furthermore, the tally represents a new high point for the state, beating the previous record high set in October 2018 of $26.75 million.

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