NJ Online Casinos rake in $87.4 million in July

While the Atlantic City casinos continue to struggle, NJ online casinos raked in a combined $87.5 million for July, exceeding May’s record of $85.9 million. Moreover, sportsbooks added another $29.5 million, and most of that was wagered online. Those numbers are from the NJ Division of Gaming Enforcement.

Atlantic City’s casinos reopened from the shutdown on July 2, but that hasn’t stopped New Jersey gamblers from betting online. Unfortunately, mandatory masks, a ban on smoking and alcohol, and limiting casino capacity has sucked the fun out of Atlantic City casinos, and many gamblers would rather stay home.

NJ Online Casinos Soar, July 2020

Here are just a few of the numbers that really stand out for July:

  • NJ online poker and casino websites raked in a combined $87,492,952 setting a new record.
  • NJ online casinos won $82,674,391, for another new record.
  • NJ online poker websites increased 36% over June, bringing in $4,818,561.

Averaging those numbers across the days in June and July, revenue slowed down a little for the online casinos in July. However, thanks to the WSOP NJ online bracelet series, poker surged, more than doubling Caesars‘ monthly poker revenue.

The surge from WSPO NJ took some revenue away from other NJ online poker sites, such as PartyPoker and PokerStars.

Among the NJ online casinos, Golden Nugget remains on top, raking in a record $31.5 million, a generous 34% market share in Atlantic City. Surprisingly, Borgata fell behind Resorts, seizing second place. Borgata was one of just two online casinos to experience a decline in July.

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NJ Casino Numbers

  • Total Revenue: $87.49 million /Monthly normalized: -0.3% / Year over year: +122.5%
  • NJ online casinos: Total revenue: $82.67 million / Monthly normalized: -1.7% / Year over year: +120.9%
  • NJ online poker: Total revenue: $4.82 million / Monthly normalized: +31.8% / Year over year: +155.4%

Even with the current restrictions, gambling at the brick-and-mortar Atlantic City casinos increased significantly. In June, total New Jersey gambling revenue was down by around 65% compared to last June. In July, that went down to just a 20% deficit.

Since online gambling is taxed at a higher rate, the state’s tax revenue is also on track to recover. In fact, New Jersey collected $26.4 million in gambling taxes, down only 4.7% from a year ago.

Better still is the fact that the return of retail gambling and a wider variety of sports betting options hasn’t caused a decrease in online casino revenue.

The increase in online gambling was definitely a saving grace for the gambling industry during the casino shutdowns.

That surge can’t last forever, as players gradually return to the casinos. However, with almost $5 million in recent daily revenue from land-based casinos, online casinos only experienced a drop of $40,000 in daily revenue. That’s a good sign that gamblers like online casinos and will continue to use them.

Online Sports Betting Revenue

  • Total sports betting in New Jersey: $29.6 million
  • NJ online sports betting: $27.0 million

Online sports betting in New Jersey exploded as major league sports, including MLB and the NBA, resumed their seasons. Online sportsbooks in the state won an astounding $29.6 million in July, more than doubling June’s $12.6 million. As the NHL kicks off, August could be even more profitable.

Retail sportsbooks also did well, but most remained behind the online sportsbooks. However, Meadowlands and the land-based FanDuel Sportsbook raked in $1.9 million of the state’s total of $2.6 million for retail sportsbooks. The Meadowlands/FanDuel online sportsbook also dominated, with a 45% share of online sportsbook revenue.

NJ online sportsbook revenue:

  • FanDuel Sportsbook $12.2 million in July, up from $6.2 million in June.
  • Resorts $8.2 million in July, up from $3.9 million in June.
  • Borgata $2.3 million in July, up from $881,435 in June.
  • Monmouth Racetrack $1.6 million in July, up from $593,548 in June.
  • Ocean Casino $1.4 million in July, up from $691,135 in June.
  • Hard Rock $838,812 in July, up from $450,589 in June.
  • Caesars Sportsbook $357,132 in July, up from $43,561 in June.
  • Tropicana $38,358 in July, up from $5,245 in June.
  • Golden Nugget $85,028 in July, up from $66,533 in June.
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