According to revenue figures released by the New Jersey Division of Gaming Enforcement (DGE), the state’s regulated online gambling market almost eclipsed its all-time monthly revenue record last month. All of the states regulated and licensed online gaming operators generated combined revenue of $38.34 million in May which is a modest $800,000-ish drop from its all-time record of $39.1 million that was generated in March. It is, however, worth noting that the May revenue figure was a stellar 57.8 percent year-on-year increase which is, by all means, a very positive development for that particular market.
Unsurprisingly, the online casino vertical was responsible for most of the earnings – it shot up 63.3 percent year-on-year to more than $36.5 million. Online poker, on the other hand, dropped 6.8 percent to just $1.8 million.
In total, the state’s online gambling operators generated a total of $52.09 million in online poker, online casinos, and online sports betting gross revenue which is a 1.8 percent decline from the $53.08 million that was recorded in the previous month. Some experts have attributed the fall to last month’s positioning as one of the slowest periods in the country’s sporting calendar.
Detailed Figures From the Report
| May 2019 | April 2019 | +/- month over month | May 2018 | +/- year over year | |
| Borgata poker | $394,272 | $403,993 | -2.41% | $442,677 | -10.93% |
| Borgata casino | $5,509,496 | $5,241,265 | +5.12% | $4,138,693 | +33.12% |
| Borgata overall | $5,903,768 | $5,645,258 | +4.58% | $4,581,370 | +28.86% |
| Caesars poker | $715,168 | $741,873 | -3.60% | $770,348 | -7.16% |
| Caesars casino | $3,759,158 | $3,989,857 | -5.78% | $3,321,081 | +13.19% |
| Caesars overall | $4,474,326 | $4,731,730 | -5.44% | $4,091,429 | +9.36% |
| Golden Nugget casino | $14,078,208 | $14,316,345 | -1.66% | $8,600,364 | +63.69% |
| Hard Rock casino | $1,518,438 | $1,606,743 | -5.50% | $- | N/A |
| Ocean Resort casino | $476,435 | $318,689 | +49.50% | $- | N/A |
| Resorts poker | $688,292 | $577,710 | +19.14% | $716,668 | -3.96% |
| Resorts casino | $7,283,681 | $6,797,686 | +7.15% | $2,910,644 | +150.24% |
| Resorts overall | $7,971,973 | $7,375,396 | +8.09% | $3,627,312 | +119.78% |
| Trop casino | $3,917,490 | $3,808,203 | +2.87% | $3,402,146 | +15.15% |
| Total poker | $1,797,732 | $1,723,576 | +4.30% | $1,929,693 | -6.84% |
| Total casino | $36,542,906 | $36,078,789 | +1.29% | $22,372,928 | +63.34% |
| Total overall | $38,340,638 | $37,802,365 | +1.42% | $24,302,621 | +57.76% |
The Success of Sports Betting in New Jersey
As the state’s gaming regulators released its monthly revenue reports, one of the most notable highlights was the sports betting vertical. The state just celebrated the one-year anniversary of its legalized sports betting industry that launched following a landmark ruling by the country’s Supreme Court. The industry has surprised everyone, to say the least, and continues to do so – already a total of over $3 billion has been wagered since it kicked off.
Putting all that into consideration, it is quite obvious that the industry has a very bright future both in the state as well as the rest of the United States. With online and mobile sports betting now in the mix, it is safe to say that the sky is the limit for the state’s sports betting industry.
