NJ Online Casino Revenue Reports January 2020

The January tax report for the NJ online casinos has been released and shows continued growth for the online casino industry as a whole. However, some brand shows a standstill, or even a decline in online casino revenues.

The big leader of the pack is still Golden Nugget, who with their brands Golden Nugget NJ, Betfair, PlaySugarhouse NJ, and BetAmerica reported a gross internet gaming revenue of $21.2 Million, which is an increase of 74.1% compared to the same period last year. 

The biggest revenue growth since last year was made by Borgata, which grew by 118.7% since the same period last year, from a revenue of $4.7 Million to $10.4 Million. 

Almost all other brands are showing healthy growth, except Caesars Interactive, with the partnering brands Caesar’s, Harrah’s, WSOP.com, and 888.com, which was the only casino in New Jersey that showed a decline of 7.4% in internet gaming revenue from $4,6 Million in January 2019 to $4.2 Million in January 2020. The partnering brands Caesar, Harrah’s, WSOP.com, and 888.com. 

Ocean Resort stayed at the same level of revenue as last year, growing only 0.1% to an internet gaming gross revenue of just $531,343. Their land-based casino and sports wagering revenues still show growth, which indicates that their online casino business might not be their focus at the moment.

In total, the industry-wide New Jersey gross internet gaming revenue grew to $55.1 Million in January 2020 from $33.6 Million in February 2019, which is a growth of 64.0%. Internet gaming is still a bigger industry than sports wagering with a gross revenue of $24.4 Million in January. However, sports wagering has a higher growth rate, growing 139.9% compared to the same period in 2019.

The gross online casino revenue leads to a large tax income for New Jersey, where online gambling contributes with $8.3 Million in taxes, compared to the land-based tax total of $13.6 Million. A very welcome tax contribution to the state!