Online casino operators in New Jersey have enjoyed a stellar start to 2020, building on the impressive revenues generated during the previous 12 months.
According to the latest figures released by the New Jersey Division of Gaming Enforcement (DGE), the NJ’s top online casinos posted a record-breaking month during January.
Online gaming revenue topped $55 million for the first time ever, an increase of almost $5m on the previous month.
That figure was a 64 percent rise over the same month last year, highlighting the staggering growth currently being enjoyed by the sector.
Golden Nugget leading the way
Golden Nugget Casino continued to be the industry-leader in New Jersey during January, generating a record $21.2m in revenues.
That amount was more than 74% higher than the $12.1m figure reported for the same period last year and $2.3m over their previous record set in November 2019.
They remain the only casino in New Jersey whose online sites generate higher revenues than its land-based counterpart.
Competition still booming
Resorts Digital Gaming claimed the runners-up spot in January, reporting an impressive $11.9m in revenues.
That figure represented a year-on-year rise of more than $5.4m, further highlighting the healthy state of the sector in New Jersey.
Borgata was the third operator to break the $10m barrier, beating its previous record of just over $9.2m set in December 2019.
Tropicana on the rise
Tropicana’s online casino also enjoyed a solid month during January, reporting revenues of more than £4.35m.
Caesars Interactive Entertainment were just behind with $4.23m, while Hard Rock Atlantic City generated more than $2.4m.
Ocean Resort were bottom of the list with just over $530,000, although that figure did represent a slight year-on-year increase.
Land-based casinos still thriving
Fears that land-based casinos in New Jersey would suffer due to the growth of online gambling appear to be unfounded.
The state’s nine brick-and-mortar establishments generated revenues of more than $192m during January, a year-on-year rise of over $14.7m.
The overall picture within the gambling industry in New Jersey remains hugely promising and looks set to continue for the foreseeable future.