New Jersey online gambling set to grow in 2018
18 Jan 2018
In addition to recapping some of the important milestones the legal online gambling industry reached — including a record $245.6 million in annual gross revenue and lifetime revenue of $722.4 million — the report comes to some key conclusions based on the results of 2017. Those include:
- By injecting a quarter of a billion dollars into Atlantic City casinos, regulated online gambling clearly contributes to growth of land-based casinos, which also saw a year-over-year increase in 2017.
- New brands to the market, specifically MGM, and new games helped broaden the appeal of regulated online gambling in 2017.
- The introduction of additional brands, new games and improved payment methods will all help to lift revenue in 2018 to a new record.
A closer look at the numbers laid out in the report reveal some interesting findings:
- The growing importance of the industry to New Jersey can be seen in the tax revenue it generates. Since launch in November 2013, New Jersey's legal online gambling industry has collected $126.5 million and injected a record $42.98 million into state coffers in 2017.
- Casino games accounted for 90% of annual revenue in 2017 with $221.3 million, up 30% from 2016.
- Online poker, however, lost steam in 2017. Poker drew in $24.3 million in 2017, down 8.5% from $27.2 million in 2016.
The state of New Jersey's legal online gambling industry comes into even clearer focus by looking at individual casinos.
Borgata Hotel Casino and Spa: Home to the Borgata Online Casino, partypoker New Jersey, Pala Casino and newly launched playMGM Casino online brands, it remains the lifetime leader in total gambling win since launch with $188.2 million.
- Borgata ranked No. 2 overall in 2017 with $48.5 million in revenue, No. 3 in casino games revenue with $41 million, and No. 2 for poker revenue with $7.5 million.
- Casino games grew 8.5% in 2017 compared with 2016. Poker declined 18% year-over-year.
- With no poker, casino games generate all of Golden Nugget's revenue, easily ranking No. 1 in that category.
- Its casino games revenue grew 62% from 2016.
- Caesars ranked No. 3 overall in 2017 with $43 million in revenue, ranked No. 4 in casino games revenue with $36 million, and No. 3 in poker revenue with $7 million.
- Caesars' casino games revenue grew 20% year-over-year, while poker declined 19%.
- Focusing entirely on casino games, it ranked No. 2 in casino games revenue with $42.6 million.
- Its casino revenue grew 15% from 2016.
- Resorts AC ranked No. 5 in casino games revenue with $33.2 million, but it topped the poker list at $9.8 million.
- Its revenue from casino games grew 44% year over year, while poker grew 12%.
To download a free copy of the full report, visit the website.