Great numbers for May, but yet the best is still to come! May’s numbers are in! While the brick and mortar casinos are still trending downwards it seems! All is not lost… In fact, according to James Plousis, NJCCC’s Chairman “Casino win was down last month largely because the casinos were unusually lucky last year in May”.
Which means, the fantastic numbers of May 2017 are merely due to luck as opposed to gain of market shares. So a YOY comparison doesn’t reflect the reality if we believe Plousis comments. Anyways, know that once again the offline casinos revenue dropped. In fact, by 7% when compared to 2017. On the other hand, online casinos are still growing by 5.6% MOM. What’s more is that May 2018 was the second highest gross revenue since online casinos went live. Indeed, in May 2018, the online casinos raked in a staggering $24.3 million. Which means that overall the states will receive $4.3 Million in tax.
Now, are we going to see a shift in revenue with the introduction of the legalization of Sportsbook? It’s likely, since there’s a lot of sports to bet on this June! What’s more is that the online sports betting platform and not ready yet. Which means the brick and mortar casinos will have a lot more foot traffic. And the Borgata could emerge as a big winner, since they were the first Casino to go live with Sports Betting!
Also, if we look at the numbers that MGM Nevada produces to give us an idea of the possible growth. It’s likely we’ll see the Borgata top the chart next month in terms of land-based revenues. Indeed, MGM alone produce $1 Billion in sports wagering! And given the fact that MGM owns the Borgata, it’s probable punters will prefer them to other casinos to place sports bets.
But the Golden Nugget is still the online market leader!
Indeed, Golden Nugget keeps on producing revenues that exceed $8 million months after months. In fact, they keep their closest competition the Borgata in the dust. But we think the Borgata’s numbers will pick up quickly and they could well become the new leader. We don’t know about you but we’re excited about June’s figures! And we can’t wait to see the new report to share the news with you.