New Jersey’s online gambling industry generated $245.6 million in revenue in 2017, up 24.9 percent from the previous year’s $196.7 million, but the golden child of the industry was Golden Nugget, which reported $68.5 million in revenue, a 62.3 percent increase from 2016, according to a new study.
The report by DGS Media, operators of NJOnlineGambling.com, attributed the industry’s growth to a variety of factors but held specific praise for Golden Nugget’s significant revenue increase.
“To say that Golden Nugget had a dominant year easily qualifies as an understatement,” the report said. “What the operator managed in 2017 would serve well as the blueprint for existing and yet-to-be launched online casino sites in the U.S. regulated space.”
The report pointed to Golden Nugget’s decision to begin accepting PayPal as a cashiering method and its expansion of Play SugarHouse, an online casino that utilizes social media features, loyalty structures and opportunity to earn bonuses.
Across the industry, the report said many casinos increased the number of slot-style games and debuted new formats that captured the attention of many gamblers.
Although the industry saw increased revenues this past year, the report said the same level of growth is not expected in 2018. The baseline projection from the white paper suggested a modest 10.6 percent growth, or $244.8 million, for 2018.