Three arrows soaring on yellow background. Business development to success and growing growth concept. Smaller Brands Boost NJ Online Casino to Record Revenue Three arrows soaring on yellow background. Business development to success and growing growth concept. Smaller Brands Boost NJ Online Casino to Record Revenue

Monthly revenue at four of New Jersey’s smaller online casinos has grown over 50% in the last year, lifting the entire vertical to record revenue in October — by a whisker.

New Jersey online casinos had a record $164.4 million in revenue in October, according to data from the New Jersey Division of Gaming Enforcement (NJDGE). Revenue was up 1.9% month-over-month ($161.4 million) and 13.4% year-over-year ($144.9 million).

And while operators on the top three licenses — Borgata, Golden Nugget, and Resorts — still have a firm grip as the Garden State’s top three online casinos in terms of revenue, four other sets of smaller licensees have been making in-roads at their expense, and at the expense of operators on the Caesars license as well.

October beat the previous record set in March by just $1.2 million; October was 0.7% better.

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Four Casinos Have Been Growing Steadily

The NJDGE shows operators on the Bally’s, Hard Rock, Ocean Resort, and Tropicana licenses combined for $29.8 million in revenue in October, equating to more than 18% of market share. That was up more than 54% from a year ago when the four combined for $19.3 million in revenue or about 13% of the market.

Hard Rock’s online casino partners — bet365 Casino NJ, Hard Rock Casino NJ, and Unibet Casino NJ — had the most impressive growth of the four, year-over-year. The group grew nearly 59% to gross $8.3 million in October 2023, enough for more than 5% of the market.

Tropicana Casino NJ grew more than 55% from October 2022, generating $9.4 million and holding 5.7% of the market in October.

Ocean Resort — partnered with Parx Casino NJ, PlayStar Casino NJ, and Tipico Casino NJ — grew 51% year-over-year and grossed $4.9 million in October. The group held 3% of the market in October.

Rounding out the quartet are three online casinos that operate under the Bally’s license — Bally’s Casino NJ, PointsBet Casino NJ by Fanatics, and Virgin Casino NJ. The group held 4.3% of the market in October.

Combined, the operators on the four sets of licenses accounted for 18.1% of the market in October. That was up from 13.3% one year earlier.

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Golden Nugget, Resorts Also Break Records

Hard Rock and Ocean Resort weren’t the only licensees to see record revenue in October. Golden Nugget and Resorts set records, too.

Operators on the Golden Nugget license — BetRivers Casino NJ, Betway Casino NJ, FanDuel Casino NJ, and Golden Nugget Casino NJ — led the field with $49.4 million in revenue. Meanwhile, operators on the Resorts license — Hollywood Casino NJ, DraftKings Casino NJ, Mohegan Sun Casino NJ, and PokerStars Casino NJ — grossed $45.2 million.

Golden Nugget was up 9.4% from September and a whopping 28.7% year-over-year. Resorts was up 1.4% from the month before and 16.5% from one year ago.

Alas, October wasn’t a great month for everyone.

Borgata licensees — BetMGM Casino NJ, Borgata Casino NJ, partycasino NJ, Wheel of Fortune Casino NJ, and Stardust Casino NJ — were down 14.6% month-over-month. Things weren’t much better year-over-year when they were down 13.5%.

Despite excitement this summer over the launch of Caesars Palace Casino NJ, operators on the Caesars license, which include 888casino NJ and Harrah’s Casino NJ, were down 36.4% year-over-year.