Interactive
US – New Jersey’s online industry sets new record in January
By Phil - 28 February 2018
The New Jersey regulated online casino sector generated $21.9m in January, up $1,204,694 from December and up 5.8 per cent month over month.
January marked the 11th straight month that New Jersey’s online casino and poker revenue has topped $20m and the fourth time revenue has exceeded $21m.
Golden Nugget led the way generating $7.29m in online gambling revenue in New Jersey for the first time and setting a record for any online gaming operator in the state. Borgata was next with US$3m.
Golden Nugget is dominating the market by uniting three different brands; GoldenNuggetCasino.com,BetfairCasino.com and PlaySugarHouse.com. It beat its own previous record of $6.25m set last July.
Steve Ruddock, lead analyst for PlayNJ.com, an internet gambling advocacy group, said: “To put the Golden Nugget’s success into perspective, no other New Jersey online casino licensee has even eclipsed the $5m threshold. The Golden Nugget’s pace-setting is the result of solid management, a strong platform and its willingness to innovate, such as the launch of live-dealer games. It has created a recipe that has made the Golden Nugget the clear market leader.”
Two more online brands will soon be added to the market as two bricks and mortar properties are relaunched.
Hard Rock is currently transforming the Trump Taj Mahal casino into the Hard Rock Atlantic City. It has partnered with Gaming Innovation Group (GiG) to launch an online gambling platform in 2018.
AC Ocean Walk meanwhile is remodelling the former Revel into the Ocean Resort Casino. It has a deal in place with GAN to launch a New Jersey real-money gambling site by mid-year.
BonusSeeker.com Casino Editor, Anirudh Vashishth, said: “We’re very excited to see growth in the market and expect it to grow far beyond its current level once Hard Rock Online Casino and Ocean Resort Online Casino join the game. This is a clear sign operators have found their own formulas for success, and have done a great job at developing entertaining products that people want to play, so don’t be surprised if you start seeing more adverts for online casinos in the coming month or two.”
Analysts from DGS Media, which tracks New Jersey’s legal online gambling and casino industry on its website, NJOnlineGambling.com, believes that in 2018 the online sector in New Jersey will grow by 10.7 per cent, resulting in annual GGR of $271.9m.
It believes there will be a proliferation of Live Dealer games as well as the introduction of new formats, such as Slingo, Scratchers, and Virtual Sports. It also believes there will be a dramatic increase in the number of online slot terminals with a number of newer online casino operators hitting their stride, including offerings from SugarHouse and MGM; and the spread of PayPal as a deposit and withdrawal option amongst more operators.
It added that market maturity and delays and operator neglect as operators turn their focus to the state of Pennsylvania, which is taking steps to welcome the industry in 2018, will be factors which could see the rapid pace of growth begin to slow.
Picture caption: The record breaking Golden Nugget launching its Live Dealer offering in 2016
