New Jersey Online Casinos Break Monthly Revenue Record

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New Jersey Online Casinos Break Monthly Revenue Record ( Click to Enlarge )

While the winter chill may have brought plenty of snow to New Jersey in January, a huge blizzard of cash has also made its way to online casinos in the area – and their customers, too.

Gambling revenue in NJ reached a new monthly high last month, exceeding $33 million. It’s the first time monthly revenues have managed to top $30 million, and the monthly total surpassed the previous record – set just one month earlier ($29.2 million in December 2018) by more than $3.5 million.

Total revenue (including online poker) surpassed $25 million for the fifth month in a row, signalling that the online gambling industry in New Jersey is alive and kicking. Percentage-wise, combined revenue was up by 53% on last year’s figures ($22 million in January 2018).

Driving Force For NJ Online Casino Revenues

At present, Golden Nugget online casino continues to hold on to its position as the market leader. The firm was the first to enjoy a $10 million month in December 2018 before taking in $12 million in January 2019.

Its leading competitor, Resorts, became the second operator behind Golden Nugget to exceed $6 million in a single month. Resorts had previously been languishing in fourth place, but some attractive bonuses and sign-up options have led to an increased user base in recent months.

DraftKings Casino had also performed well in the first month of the year. It launched as a live BlackJack platform in January, before quickly establishing itself as a full-service electronic casino.

Online Poker Opportunity

Casino operators are likely to attempt to capitalise on poker’s struggle for market liquidity. Online poker sites generated $1.9 million in January 2019 – an impressive amount by any standards, although the figure is actually down slightly compared to last year’s report. Some speculate that operators may introduce new poker sign-up bonuses aimed at attracting more poker players to their platforms.

Online gambling continues to enjoy growth in New Jersey, and with that growth comes investment and greater opportunities for players to win larger jackpots. If current trends are to continue, 2019 will easily be the most lucrative year for online casino operators in the area.

Sources: OnlinePokerReport