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New Jersey iGaming Revenues Drop 2.8% in September

The New Jersey Division of Gaming Enforcement released revenues on Wednesday. Overall revenues dropped 2.8 percent in September to $10.24 million thanks in part to the closure of Ultimate Poker.

Golden Nugget was the big winner in September, gaining an impressive 27.5 percent in revenue to eclipse $1 million in earnings. Meanwhile, Betfair actually gained revenue in September despite the closure of Trump Plaza.

Golden Nugget and Betfair Post Gains – Tropicana Slides

For the first time in months, Tropicana saw a decrease in monthly revenues. The site posted just $2.04 million this month opposed to $2.26 million in August. This number is still impressive considering the site does not offer online poker.

Betfair actually saw a 7.5 percent gain in September, something unexpected considering they lost their casino partner, Trump Plaza. Revenues increased to $767,870, including a whopping $1 earned in poker rake.

The big winner for the month was Golden Nugget. They achieved a 27.5% gain in September to $1.08 million in revenue. Part of this may have been the influx of players coming from Ultimate Gaming after the closure. Not surprisingly, this gain in revenue mirrors what’s been happening at the property in Atlantic City.

According to the DGE’s press release, Golden Nugget has combined casino win of $15.18 million in 2014, a 41.5% increase over 2013. Their total gaming win is $16.27 million including iGaming, an increase of 51.6 percent year over year. No other casino in Atlantic City has posted a double-digit increase in earnings this year, so the Nugget’s turnaround is amazing.

Caesars and Borgata Remain Flat

Caesars and Borgata both saw small losses in September, but neither were cause for concern. Borgata dropped just over $20,000 to finish with $3.45 million in revenue. Caesars saw close to a $100,000 drop in online poker revenue in September, but nearly the same gain in other iGaming. They finished down about $41,000 on the month, with $2.66 million earned in September.

With Ultimate Gaming now closed and both sites offering some serious poker promotions in October, expect poker revenues to increase. We should also get a better idea of where former UG table game players land, but at present it appears they are favoring the Nugget.

Final Numbers for Ultimate Gaming in 2014

During its last couple weeks of operation, Ultimate Gaming pulled in $228,717 in revenue. Just under $7,000 of that was from online poker. The final numbers for Ultimate Gaming show the site earning $5.14 million in 2014.

After September, New Jersey has pulled in $93.91 million in iGaming revenues. Online poker accounts for 32.73 percent of that figure, or $23.15 million.

 

 

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James Guill

James Guill began his poker career in 2006, spending two years traveling the US tournament circuit. Since 2008, he has covered the game extensively for some of the biggest names in the industry. When not writing about the latest poker news, he can be found hunting for antique treasures in Central Virginia.

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