New Jersey’s online casino industry has undergone rapid growth in recent years. Despite still being in its infancy, New Jersey online casinos recorded over $29 million in earnings for December 2018 to close out yet another record-setting year for the industry. The exact total of $29,008,265 earned across poker and casino platforms represents the industry’s largest haul since its launch in 2013, beating the previous monthly record by more than $2 million.
According to NJgames, the large haul from December 2018 has successfully taken the industry’s lifetime revenue past the $1 billion mark, which having been achieved in just 5 years, makes New Jersey’s online gambling market one of the fastest to reach that landmark in the U.S. While the success of the market and its leading casinos, in general, have been impressive, the recent performances of the Golden Nugget have been particularly eye-catching.
Just six years ago, the Golden Nugget was barely an afterthought in an industry dominated by the likes of Caesars and Borgata. Few could have predicted that Golden Nugget would be able to compete with these casinos, let alone dominate them over an extended period of time. As New Jersey’s online casinos market has developed, the Golden Nugget has slowly etched its way to the top of the revenue log and now has an outstanding 33% of the market share, having owned just 5% at the end of 2014.
What has been most impressive about Golden Nugget’s numbers in recent years, has been just how far ahead its been when compared to its competitors. The Nugget remains the only casino with a positive annual growth trend since the industry began in 2013, and the casino still holds numerous revenue records while setting new ones every year. Golden Nugget made a total revenue of $102,784,534 in 2018, which was a 39.4% increase from the previous year and is the industry’s largest annual revenue to date.
Golden Nugget also became the first NJ operator to record an eight-figure revenue for a single month, with its total tally of $10,178,563 being by far the biggest single-month win the industry has ever seen and it will take quite some time for any of the casino’s competitors to achieve that particular milestone, as Borgata’s December 2018 revenue of $5 million represents the first time another casino besides the Nugget has crossed the $5 million monthly mark, a milestone cleared by the Golden Nugget in February 2017.
Recent NJ online gambling statistics has recorded steady growth for the Golden Nugget; revenue for January 2019 even hit the 12 million mark. It’s a remarkable monopoly in what is a very competitive market, and projected statistics predict that Golden Nugget might hit the $15 million monthly revenue mark before the end of 2019. Considering the casino didn’t have the early and explosive start of its rivals, its performances in the market have been astonishing, and with numbers still firmly on the rise, the Golden Nugget is set to dominate the NJ online gambling scene for decades to come.