NJ Online Casinos Broke Another Record in January with $152.9 Million in Revenue
New Jersey online casinos smashed their own records by earning more than $150 million for the second straight month.
January’s revenue from online casinos broke the previous high of $151.5 million set in December, according to the NJ DGE (New Jersey Division of Gaming Enforcement), which recorded $152.9 million. Reventue went up 10.9% YoY after January of last year’s $137.8 million has set the stage for a record $1.66 billion in revenue. This record appears to be destined to be broken as well. Meanwhile, land-based casinos in AC made over $200 million in revenue for the 12th consecutive month in January.
With its BetMGM and Borgata online casinos, Borgata Hotel Casino & Spa once again claimed the top rank among New Jersey’s online casino providers. Its $40.8 million in revenue was an increase of 4.3% YoY.
Resorts Digital and Golden Nugget Atlantic City, two other operators, came within $600,000 of surpassing Borgata, so it wasn’t the only one at the top.
Golden Nugget reported $40.6 million in sales, an increase of 11.3% YoY. The company’s brands include FanDuel, BetRivers, and Golden Nugget Online Casino.
With $40.2 million in revenue, Resorts (Barstool, DraftKings, and Resorts Online Casino) came in third, riding a 21.8% YoY increase to tie Borgata and Golden Nugget for first place.
These 3 operators collectively generated over 80% of the iGaming revenue in January.
Revenue for the top three online casinos exceeded $40 million apiece, but none of the other five reached $10 million. The closest was Caesars Atlantic City, at $8.3 million. Its income decreased from $10 million in January of last year by 17.6%. Only Tropicana ($7.8 million), which had a YoY decline of 18.5% as a result of Virgin Casino moving off of its platform, was hurt harder.
Bally’s, the company behind PointsBet Casino, Virgin, and its own Bally Casino, reported $5.1 million, an increase of 327% over the $1.2 million it reported in January of the previous year. Nonetheless, it was still insufficient to overtake Hard Rock ($6 million; -6.2% YoY).
Ocean Casino Resort maintained its growth trajectory, much like Bally’s. It reported a growth of 106.5% YoY while having the lowest revenue for the month of $3.9 million.