Over the past months, we’ve grown accustomed to reporting all-time high after all-time high for online casinos NJ. And perhaps this month is the only month where the iGaming industry didn’t break any record. Indeed, in a recent press release, the NJ Division of Gaming announced April’s figures. And you’ll be surprised to know that the revenues are down by 10.6% overall when compared with March.
Indeed, online casinos took $23 million (cumulatively) which is $2.6 million less than last month. But perhaps one shouldn’t compare the revenues MOM as the summer is approaching. Because, as you know, the seasonality is profoundly affecting the industry. In fact, many experts believe it’s wiser to compare the revenues YOY to get a better understanding of the market growth during the sunnier months. And if doing so, the figures look a lot more encouraging. Indeed, online casinos NJ reported a 12.7% increase YOY.
Who are the market leaders?
There hasn’t been any changes on that front. In fact, the Golden Nugget (including PlaySugar House and Betfair) still emerged as a market leader and took in $8.13m. In the second place, you’ll still find the Borgata (including Pala and Party Casino) who generated about half as much as the Golden Nugget but still took in $4.6m, of which $514k came from online poker. As you see, the online casino vertical is pretty much carrying the brands, and its likely things won’t change for now since they’ve recently launched Live dealer games which for sure will help the brands gain momentum.
The honor of the last podium position goes to Resorts Casino and its white labels (PokerStars and Mohegan Sun) who took in $3.6m, of which 22% came from poker. As for the other… Caesars still made $3.5m and Tropicana was just a bit behind with $3.17m in revenues.
As sunnier days are approaching, we’re expecting revenues to go down next month as well and even more so as many poker players will possibly travel to Vegas to take a shot at a bracelet. Let’s see what the future holds!