While Nevada and Delaware are struggling to meet expectations for iGaming revenue, New Jersey continues to impress.
Numbers for November were recently released by the NJ Division for Gaming Enforcement and reveal that NJ iGaming had its best month ever.
NJ iGaming Brings in Record $13.22 Million in November
NJ iGaming posted its best month ever in November, earning $13.22 million in revenue between all games.
Breaking this down, online poker sites earned $1.95 million while other games earned a staggering $11.26 million.
To put this in perspective, the entire iGaming industry earned just $8.73 million last November. That's growth of 51.3% year-over-year.
Of course we should point out that Caesars paid out a $1.3 million jackpot last November.
NJ iGaming Up 20.2% for 2015
Through November NJ iGaming has posted revenues 20.2% higher than those in 2014.
Last year the industry pulled in $112.14 million through November compared to $134.83 million this year.
Table games lead the way with $113 million in revenue, up 32.7% from 2014. That's more than all of iGaming pulled in last year through November.
Online poker has struggled in 2015, down 19.2%. So far iPoker has earned $21.83 million compared to $27 million through November 2014.
Expect Continued Growth and a Rebound for iPoker in 2016
We don't believe that iGaming has yet to reach a ceiling in NJ and that the industry will continue to grow in 2016.
We estimate 10-13% growth for table games next year compared to this year. With that said, we also expect a rebound by the online poker industry once PokerStars begins operations.
PokerStars will bring new players to the game and bring back those that chose to sit out while waiting for the world's largest poker site to come back to the U.S.
Next year, expect the industry to rebound and finish on par with numbers from 2014. If things turn out bullish, we might see a small 5% growth.