New Jersey online gambling revenue has seen solid growth since last year, up has seen solid growth since last year, up more than 20 percent from 2014 for the first seven months of the year.
Through the end of July, online casino and poker operators have taken in more than $84 million. That’s up from $69 million in 2014 through the same time period, an increase of nearly 23 percent.
Borgata, once again, leads all internet gambling operators, with $27 million in revenue, just $100,000 off its numbers from last year.
Both Golden Nugget and Tropicana have about $19 million in revenue through July, while Caesars has seen a decline from $21 million in 2014 to $18 million this year, putting it in fourth place out the five license holders.
New operator Resorts has generated $1.7 million since launch.
Here is a closer look at each online gaming license holder in the state:
Resorts AC is playing catch-up in the online casino market, going live with its first offering in February. But it has shown steady growth ever since, going from half a percent of market share in its first month to 4 percent several months later
Resorts just added MoheganSunCasino.com to its stable at the end of July, trying to tap into the well-known brand to attract new customers. Resorts is also poised to partner with PokerStars for online poker, a move can only help its bottom line.
While Caesars has lost market share since 2014, it’s sill consistently in the mix as the state’s No. 2 operator.
Caesars is looking to reassert itself by outsourcing its online affiliate program to Income Access, a move that it hopes will pay dividends in the long run.
Golden Nugget has seen the biggest increase in revenue year-over-year, with revenues up more than 300 percent.
How did it do it?
Late in 2014, it added Betfair Casino to its license after Trump closed and shut down its online gaming license. That has helped launch GN to the tier of operators right behind Borgata. This year, it’s also added a cashback promotion where a player can receive up to $200 of his or her initial deposit back.
Tropicana has been the other big gainer in New Jersey online casinos, up from $12 million in revenue last year – an increase of 60 percent.
One of the reasons for Tropicana’s success: Some credit its non-intrusive way of registering customers (using just four digits of a social security number, instead of all nine, to identify a player).
It also launched Virgin Casino in 2014 a few months after launching its core site in 2013, and that has paid off with added revenue.
Borgata has been the top dog in NJ’s online casino industry pretty much from the start, leading all operators for 21 months in a row. Borgata, faced with increasing competition, has managed to hold onto its market share year-over-year while even seeing gains some months – including a nine percent gain in July (YoY).
As an aggressive first mover in terms of launch and early marketing spend, Borgata has done what it needed to not backslide. That included quickly expanding payment processing options to Neteller and Skrill to avoid issues with credit card acceptance rates.