This week, the New Jersey Division of Gaming Enforcement (DGE) published the revenue generated by the state’s online gambling market in December. It showed that the last month of the year broke all records for 2018, with licensed online gambling operators generating revenue over $29 million – an impressive 40% increase year on year. The numbers include online casino and online poker revenue.
Until the December numbers were out, it was thought that November would be the highest revenue generating month of 2018, but it was then announced that December’s online total reached $2 million higher.
More good news came from the online poker sector which saw an improvement compared to the previous month’s numbers. Analysts agree, however, that there is still much room for improvement.
Other highlights of the December 2018/full year 2018 report were as follows:
- The online casino sector contributed significantly to December’s numbers, showing 45% growth to $27.2 million.
- The full year 2018 online revenue growth was just under $300 million – a 21.6% improvement compared to 2017’s total.
- Overall, online poker fell 11.8% in 2018 to $21.4 million.
- The online casino platforms belonging to the Golden Nugget group did exceptionally well as usual, with revenue of $10.2 million in December. Overall, in 2018, the Golden Nugget’s online gambling revenue improved over 50% compared to 2017’s results to $104.85 million.
- Total gaming taxes were $21.8 million (8% of taxable casino gross revenue, 15% of online gaming gross revenue, 8.5% on casino and racing sports betting gross revenue and more).
Sports betting analyst for PlayNJ.com, Dustin Gouker lent his two cents on the sports betting sector in New Jersey.
“New Jersey’s strong month actually bucks a trend seen in Nevada, where sports betting typically cools a bit in December,” he said. “Growth in a typically slower month crystalizes the strength of New Jersey’s growing sports betting market. The popularity of online sports betting is a chief reason, making it easier for gamblers to place bets, even as the time demands of the holiday season are in full bloom.”