New Jersey online gambling revenue reaches a new all-time high

Online gambling is on the rise. The online casino revenue all-time high record set in October only lasted for a month. The November numbers were even higher for the state of New Jersey’s online casinos, poker sites and sportsbooks.

The November online gambling revenue reached close to $27 million – $14 million of which came from NJ sports betting sites, the NJ Division of Gaming Enforcement reports.

In 2017 the New Jersey online gambling industry had revenues of total $245.6 million, which has already been surpassed by this years number, with one month left of this year. Historically we can see that the month of December is usually one of the strongest months based on revenue, so we’re expecting another record month before we turn the page and enter a new year of gambling.

Another big milestone that the NJ online gambling sites will reach in December is the lifetime revenue of $1 billion.

new jersey online gambling revenue 2018

Highlights from the NJ online gambling revenue report

Here are some of the highlights from the November revenue report from the New Jersey Division of Gaming Enforcement.

November revenue based on vertical:

Vertical Revenue
Online casino $25.4 million
Online sports betting $14.4 million
Online poker $1.6 million

This makes the total revenue including online casino, poker and betting in November $41.4 million.

The year-over-year growth trends also show promise, as online casino revenues are up 35% and the total revenue is up by 30.7%.

This is including online poker, which has seen a decline of 13.7%.

The New Jersey online gambling market has still not seen a year-over-year decline in the revenue totals of any month, as shown in the below chart.

new jersey online gambling revenue yearly comparison

What this month will bring we can’t really tell, but if you look at the above year-over-year chart, the month of December has always had higher revenue than in the previous month of November (even when excluding sports betting). This means we’re set up for a record-breaking month, bringing in a lot of money in gaming tax to the state of New Jersey.

888 All American Poker Network acquisition

888 going All-In on the US Gambling Market with All American Poker Network acquisition

888 Holdings is strengthening its position as one of the key players in the US online gambling market with the acquisition of the All American Poker Network for a staggering $25 million.

Earlier today online gambling giant 888 Holdings announced they have acquired the remaining 53% of the shares in AAPN (All American Poker Network). This, according to 888 Holdings, is on par with their plans to expand further in the United States online gambling market.

In the press release, it was stated that 888 Holdings will pay $28 million in an all-cash transaction to gain control of the American online poker network.

The All American Poker Network was started as a joint venture by 888 and Avenue OLG Entertainment LLC back in 2013. The poker network was set up to help grow the 888 brands presence in the New Jersey online gambling market, which at that time had just been regulated, making online poker and casino legal. Shortly after the poker network was set up, both 888casino and 888poker launched their products, offering poker and casino games to New Jersey players.

With the AAPN acquisition, 888 said in today’s press release they will get “independent control of its growth strategy in the US”. Just like many other large online gambling companies, 888 have been looking at ways to expand and take the position as the key player in the US gambling market, especially after the ban on sports betting fell back in May 2018. Shortly after, in June 2018, the first NJ sportsbook was launched, and at this time there are 8 sports betting websites live in the state on New Jersey.

One of them is 888sports, which was launched back in September earlier this year. This was the first time 888 Holdings ever was able to offer sports gambling in the United States of America.

Following the successful launch, 888sports signed a major sponsorship deal with the New York Jets, making it the first ever sponsorship agreement between an NFL franchise and an online sports gambling company.

Itai Freiberger, 888 Chief Executive stated the acquisition “places 888 in an even better position to take advantage of the significant growth opportunities in the US”.

To complete the acquisition, 888 Holdings stated, it will pay $10 million today, and $18 million in March 2019.

888 holdings are currently operating in New Jersey, Delaware and Nevada, offering sports gambling, casino games and poker.