BetMGM and Borgata Soar to the Top of the NJ Online Casino Revenue Peak
Could it happen for the third month in a row? For the time being, the license holder’s March and April results are noteworthy. And the Borgata and BetMGM online casino brands have played a vital role in the company’s recent success. Borgata’s dethroning of Golden Nugget Online Gaming is the premier online casino was one of the month’s biggest stories.
Borgata has been closing in on GNOG for some months, so this news should come as no surprise. There was only a $2.2-million gap between the first and second place in February. The next series arrives only a few weeks after their last series finished on an unexpected note: Despite good revenue and cash game visitation figures, the May partypoker Online Series in New Jersey fell more than $55,000 short of the guaranteed lot of value to participants.
Despite the decreased total guarantee, there is still much value in this series for players—possibly even more than in May. The buy-ins for the final event (which concludes the series with an extensive guarantee) and the opening possibility have been decreased by more than their guarantees, putting more potential value in the pot for June.
New Jersey is an online poker battleground with three licenses and six online poker operations competing for poker revenue. The previous year was a boom year for online poker companies worldwide, and New Jersey was undoubtedly not left behind.
This result represents a 12.7 percent decrease month over month compared to March. However, this is expected with the NCAA Men’s Basketball Tournament pushing bug numbers last month. So far, bets placed in April have propelled New Jersey over the $3 billion thresholds in online betting transactions for 2021.
In April, revenue from New Jersey’s mobile sports betting applications was slightly under $47.5 million. More than half of total revenue came from the New Meadowlands Racetrack license (FanDuel Sportsbook, PointsBet).