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The latest financial results for the month of October (2018) have been published by the New Jersey Division of Gaming Enforcement, and they show the huge progress being made in the online market compared to the more stationary land-based casino market.
The results
The year on year revenues of online casinos have risen an astounding 30%, with the revenue now at $26.8 million.Overall, New Jersey’s Gaming Revenue rose to $242.7 million, with the most impressive rise coming from The Golden Nugget, boasting revenues of $9.6 million, a staggering increase of 57.6% year on year.In comparison, land-based casinos saw a much slower revenue growth, with a monthly revenue of $200 million being a rise of around 8% from last year.Not only that, but some big name land-based casinos saw their revenues drop, the likes of Caesars, Hard Rock Hotel Casino, Harrah’s all saw a slump in the last year, with Borgata staying as the market leader, with revenue of $50.7 million, in spite of seeing an 8.1% drop in the last year.In terms of online gaming, it wasn’t all good news, as poker saw a drop of 14.5% year on year, although October’s results showed progress after September’s all time low in poker revenue.
Delaware
The only other US state to publish online gaming figures, saw less growth, with an 8% year on year rise, October’s revenue saw almost a third drop off last month’s total, however, with a record of nearly $350,000 having been announced in September.Online slots are by far the most lucrative online game type in both New Jersey and Delaware, with table games also doing steady progress, while online poker continues to drop in popularity as the iGaming world evolves around it.