NJ iGaming Numbers Dip in June – Up 22.8 Year-Over-Year

Those expecting a bump for June thanks to the World Series of Poker were somewhat disappointed when the New Jersey Division of Gaming Enforcement (DGE) released their iGaming numbers for June.

The industry dropped by 6% from May’s totals with online poker continuing to slide. However, when you look at the year-over-year totals, New Jersey iGaming is performing quite well and is up 22.7 % compared to June 2014.

Monthly Totals Down Nearly 6%

June revenues were down around 6% after online poker failed to rebound during WSOP season. Total revenues for the month were $11.6 million compared to $12.4 million in May. Looking at these figures closely, online poker drew in 1.83 million in June while table games brought in 9.83 million.

As far as individual winners and losers, Golden Nugget was hammered in June, dropping 17% and dropping to 4th place overall. Borgata took a solid hit as well, dropping around 10% to 3.54 million.

Resorts continues to gain market share and brought in $400,600 this month, a gain of 23%. Tropicana was the only other casino to see a gain in June, up 2.4%.

Table Games Continue to Push Revenues Up

Overall gaming for 2015 saw a 22.8% increase year-over-year. In 2014, the industry pulled in 9.5 million versus 11.66 million in 2015. This included 496,060 from the now defunct Ultimate Gaming. Without UG, gaming grew by 29.5% in 2015.

Not surprisingly, online table games and slots were responsible for gains while online poker continues to slide. In June, table games saw growth of 31.9% from 2014 while online poker dropped 10.4%.

Here’s a chart of casino revenues comparing 2014 to 2015. Please note that Trump Plaza is now under the license of Golden Nugget. Also, Resorts just started operations in 2015 so they do not have year-over-year data to compare.

* – The figures for 2015 revenue include Betfair, which was formerly under Trump Plaza’s license.

While all casinos saw gains, Tropicana had the best gains. Even if you were to combine Golden Nugget and Betfair’s gains for 2014, they fall just short with 44% growth in 2015.

Will Summer Slide Continue?

The question now is whether the anticipated summer slide will continue or will the next couple of months start seeing a turnaround. Our best estimate would be another month of slight drop-offs due to the Fourth of July holiday and the end of summer for families with school-aged children.

August and September is when we can start to expects some rebounding by the industry, especially if we start seeing solid signs that PokerStars will open shop as planned in October. The next few months will be interesting in determining the future for the New Jersey iGaming industry.

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