New Jersey market up 23% despite plunging poker revenues
Golden Nugget extends its lead at the top of the market in October
New Jersey has reported a 23% rise in online gaming revenues for October, with the state’s licensees winning a total of $20.6m, according to new figures from the Division of Gaming Enforcement.
Online casino climbed 31% to $18.6m, while poker dropped 20% year-on-year to $1.9m.
The poker figure is particularly concerning given two major online tournaments were held during the month, but operators will take some solace from the incoming liquidity pact with Nevada and Delaware.
Elsewhere the Golden Nugget extended its lead at the top of the market, aided by its sub-licensees Betfair and SugarHouse, posting October revenues of $6.1m, up 50% year-on-year.
Borgata also enjoyed a strong month, growing 14% to $4.2m. It also emerged yesterday the MGM-owned casino is launching a $7m project to build out a sportsbook in preparation for a positive ruing from the Supreme Court next year.
Jay Rood, VP of Race & Sports @MGMResortsIntl, will be going to the Borgata tomorrow to oversee the buildout of a $7 million sportsbook. #SBUSA17
— PropSwap (@PropSwap) November 15, 2017
Third place in the market went to Resorts which climbed 27% to $3.5m.
Tropicana finished a notch below Resorts, also at $3.5m, while Caesars Interactive notched $3.3m
The figures mean New Jersey has already surpassed the $200m mark in total 2017 revenues, making it the best year ever, despite there still being two months left to run.