New Jersey iGaming Dashboard – March 2019

iGaming Business and Ficom Leisure are pleased to present the New Jersey iGaming Dashboard, providing revenue and product metrics on the state’s regulated market. The data is updated monthly following the official release of figures from New Jersey’s Division of Gaming Enforcement (NJDGE). February’s figures, covered here, show that the state’s online gaming market has grown strongly from the prior year, though has declined sequentially. This, however, is due in part to the fact that February is the shortest month of the year. iGaming continues to be dominated by casino, with the peer-to-peer vertical – poker – dwarfed by revenue from slots and table games. Despite this, peer-to-peer revenue of $1.8m in February represented a 2.1% year-on-year increase. In terms of market share, Golden Nugget continues to lead the way, accounting for 33.7% of New Jersey igaming revenue in February. It remains significantly ahead of Resorts Digital, which has a 21.0% share, though the gap does appear to be closing. Resorts has grown significantly in recent months, moving ahead of Caesars Interactive and the Borgata. Both these licensees, which previously fought for second place behind Golden Nugget, have seen revenue growth remain steady, but not enough to stay ahead of Resorts. In February alone Resorts Digital, which sub-licenses PokerStars, saw revenue jump 76.3% year-on-year. Looking to sports betting, the vertical appears to have been impacted by a shorter month, and figures have been skewed by a number of licensees making losses in February. This has effectively wiped out some licensees’ market share, which in turn has resulted in the better performers appearing to have significantly larger shares. For example, five of the state’s land-based casinos posted sports betting revenue totalling $4.9m for the month, though losses from the Borgata, Golden Nugget, Harrah’s and Tropicana drove total sports betting revenue from casinos down to $3.9m. Furthermore, as a result of the losses, market leader Meadowlands, which generated revenue of $8.1m in February, has seen its market share artificially inflated to 58.7%.  Looking beyond the losses, perhaps the most notable figure from New Jersey’s sports betting revenue report is Resorts Digital’s revenue of $3.7m. This represents a 46.1% month-on-month decline for DraftKings’ licensing partner, and sees Meadowlands, which sub-licenses FanDuel, established as the state’s clear sports betting market leader. Ficom Leisure also provides exclusive monthly estimates on the Italian online market in the Italy iGaming Dashboard, including operator market shares across casino, sports betting and poker. It also provides quarterly figures on the Spanish online market in the Spain iGaming Dashboard and on the Danish online market in the Denmark iGaming Dashboard. A European corporate advisory firm, Ficom Leisure is a specialist in all segments of the betting and gaming sector.