Mental
Mental
Joined: Dec 10, 2018
  • Threads: 4
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Thanks for this post from:
MrCasinoGames
October 3rd, 2022 at 7:02:52 PM permalink
Here are the numbers for online gross revenue for August 2022 in $millions (excluding peer-to-peer which is mostly poker).

Property Handle
Borgata 41.1
GNOG 31.4
Resorts 30.1
Caesar's 8.1
HardRock 5.8
Tropicana 5.4
Bally's 4.5
Ocean 2.9


Note that revenue is not the same as handle. This is really a tale of the big three and the also rans. CZR has been struggling to gain market share in New Jersey's online gaming market. Caesar has three B&M casinos in NJ to help feed their online market. All the rest have a single B&M property. CZR is still sucking wind.

All the big players have three or more online sites under their umbrella. Bally's only has one fairly new online property and Ocean has only two (Ocean and Parx). Trop is a little misleading/confusing because it is merging with CZR and and closed one if its online properties and sent its clients to CZR.

Hard Rock is doing well in their B&M casino in NJ, but they don't promote much on their online business, GNOG has FanDuel and Resorts has DraftKings. Borgata is the most desirable AC property and has the MGM brand. Ocean, FD, SugarHouse, DK, and the MGM properties are all doing heavy marketing spend. CZR has never spent much on promotions. Their Harrah's and 888 sub-brands have crappy user interfaces and few games. GN has over 1100 slots and DK over 900. The MGM properties also have a huge selection.

There are a lot smaller sites in NJ that have poor game selection and poor user interfaces. The may hang around for a while like stripper wells on a played out oil field. As long as they generate positive cash flow, they are kept alive. There are new players trying to enter the market (PlayStar, Betway). I think it too late for any new entrants without marketing muscle. There always seem to be teething problems with new sites.

Having a big national brand seems to be really important. CZR had this, but they just didn't do anything with it. My impression is that SugarHouse, which is a PA brand, is doing better in NJ than CZR.

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