The state of New Jersey has emerged as the gold standard when it comes to iGaming, but the state posted some disappointing numbers in April.
New Jersey has routinely set new industry records, but this time the numbers are headed in the wrong direction.
The iGaming total revenue for the month of New Jersey was $107.7 million after it was $113.7 million in March. This total includes both NJ mobile and online casinos and online poker sites.
New Jersey also saw a drop in sports betting revenue for April, which is another significant news story. The total sports betting revenue fell from $60.8 million to $54.8 million for April.
The drop in online casino revenue in New Jersey was nearly offset by growth in commercial gaming, but not enough for the state to equal the numbers from March. Total gaming revenue in New Jersey was $352.2 million after it was $359.3 million in March.
This is the first time that the average revenue per day has dropped in the New Jersey iGaming industry since July 2020. That drop was explained by the re-opening of retail casinos in the state, but this drop is not something that can be explained.
One theory could be that COVID-19 restrictions have been lifted in Atlantic City, and casinos can now have more customers in their properties. This would explain less action being done online, but this is a trend that online operators will want to correct.
Comparing the April 2021 numbers to April 2020 paints a different picture, but that is not a fair comparison. There are now more online casinos available in New Jersey, and gaming throughout the US has been on the rise.
Borgata, Golden Nugget Still Leading
One thing that hasn’t changed when it comes to New Jersey online casino gaming is the two companies that remain at the top. Borgata and Golden Nugget have an intense battle going for the top spot, and these companies reported nearly the same figures for April.
When it comes to online casino gaming, both companies brought in more than $32 million in total revenue. Borgata also offers online poker rooms, and the revenue from that portion of the industry pushed it slightly ahead of Golden Nugget.
Borgata emerged as the clear leader in March, but that company saw a 9.3% drop in April for unknown reasons. Golden Nugget was able to pick up the slack as its revenue increased by 2.1% last month.
Hard Rock was the company that was hit the hardest during April after it saw total revenue drop by nearly 15 percent. Tropicana and Ocean were the only other companies that saw revenues increase last month, but these operators are still well behind the leaders.
Resorts owned 18% of the iGaming market share for April to remain in third place. Both Borgata and Golden Nugget have 30 percent of the market share, and they have a stronghold on the New Jersey industry.