Coronavirus may have slowed them down a bit, but New Jersey online gambling revenue has rebounded nicely for October! Internet betting sites in the state were able to bring in well over $90 million which set a new record. Bets on sporting events was also up nearly 30%.
Poker was not as lucky. Revenue has been seeing a downward trend for months, but drop did slow. But online casinos did well, with the Golden Nugget increasing revenue 8.2%. Their closest competitors are Resorts and Borgata which continued the chase. Tropicana had the best month of any license holder, up 20.8%. As a result, it has overtaken Hard Rock, which had one of the worst performances, dropping 12.1%.
The picture in the state in increasingly becoming one in which licensees have split into two tiers. Golden Nugget, Resorts and Borgata all made over $20 million in October, while Tropicana, Hard Rock and Caesars all made less than $10 million. Ocean, with less than $1 million, isn’t even in the picture, but Bally’s should arrive soon to shake things up now that it has completed its deal with Twin River.
You can read more about New Jersey online gambling at Online Poker Report.