New Jersey Online Gambling Hits Revenue Record for January 2018
New Jersey’s surging online gambling industry got 2018 off to a very positive start by posting record revenue for the first month of the year. In fact, Garden State operators went one better by making the month the best single month since New Jersey introduced regulated online gambling back in 2012.
All told, New Jersey online gambling operators pulled in a whopping $21.96 million in revenue for the month. That makes 11 straight months in which the state’s online sector has gone over the $20 million mark. According to OnlinePokerReport.com, this is also the fourth month that’s seen revenue over $21 million.
The biggest individual winner in NJ’s big month was the Golden Nugget, which seems to be leading the local online gambling industry. They posted up revenue of $7.3 million. That’s the first time that any NJ online operator has seen its revenue go north of $7 million. That number also trumps the casino’s previous best month, $6.25 million in July 2016, by more than a million dollars.
A statistic from Jersey’s wonderful month that’s well worth looking at is the distribution of revenue among the various verticals. Or, more specifically, that fact that online poker revenue is pretty anemic while casino revenue continues to go through the roof. Consider this, almost $20 million of that $21.96 million collected in January came from online poker which itself brought in less than $2 million.
While NJ’s big online gambling month gets the year off to a good start, it also puts the industry on track to break the $1 billion mark sometime in 2018. That’s a massive achievement for a market sector that’s struggled to find its place in the US market.