NJ Online Casinos Reaches $100 Million in Only 2 Months!
January 22, 2021
The tax reports for NJ interactive gaming for February have been released. The total year-to-date revenues for the New Jersey operators have gone north of $100 Million, only two months into the year.
February, just like last year, shows a slight decline in winnings for most of the operators, which can be a result of holidays coming to an end and people going back to work. The fall went from $55 121 135 in January to $51 987 768 in February, a similar drop to what happened in January and February 2019.
Golden Nugget Holds 38% of the Market
With portfolio brands SugarHouse Online Casino, Betfair, and Golden Nugget NJ, Golden Nugget reported winnings of $19 778 285. Compare that to the revenues of $10 701 266 to see that their incomes have almost doubled over the past year.
This month’s growth winner is Resorts Casino, with monthly revenue growth in 2020 of 87% since February 2019. Much of the credit goes to DraftKings, which has gotten a great casino platform up and running since last year. Resort’s February 2020 revenue totaled $12 463 274, an 87% increase from last year’s $6 657 591.
Caesar’s Shows Negative Growth
Caesars Interactive shows little growth from January but actually declines in year-to-date revenues since last year. This is worrying, as Caesar’s holds many good brands like 888casino, Harrah’s, and, of course, Caesar’s Casino. With such a line-up of brands, one would think that the operator would experience roughly the same growth as other brands in the market.
The Industry is Striving
Total gross interactive gaming revenues for the New Jersey casinos in February 2020 totaled $51 987 768, a decrease from January but a growth of 64% from last year’s $31 748 726.