Golden Nugget Online Casino NJ is thriving. The casino has been dominating online table games and slots since its launch.
NJ online gaming has generated a total of $25.1 million in revenue for October. Out of those, a whopping $9.7 million belong to the Golden Nugget – that’s 39%, and more than double the revenue of its closest competitor the Borgata.
We now know that Tilman Fertitta’s ambitions span across the New Jersey border. Last month, the Golden Nugget applied for an online gambling license in neighboring Pennsylvania.
The Pennsylvania Gaming Control board invited the Nugget, among MGM and other high-profile casinos to fill in the empty slots left by the state-based properties. With plenty of licenses left each costing $4 million, it was only Golden nugget and MGM Resorts who filed in their submissions. It’s unlikely that either of them will get turned down, considering PA stands to profit a total of $20 million by the two casinos.
As such, we can expect the launch of the Pennsylvania Golden Nugget Online Casino in the early months of 2019. The casino will be offering online slots and table games, but not poker.
Golden Nugget will not have a corresponding physical affiliate, but it will try to transfer over its online strategy and take hold on a second online casino market.
Golden Nugget Online Casino To Make It Big In PA
Casino operators in Pennsylvania have a lot of experience, but their online market and sports betting market are just learning how to walk.
In comparison, NJ casinos have been going well in terms of sports betting and online casinos, with Golden Nugget running miles ahead of the competition. If anyone knows about launching and operating a successful online casino, it is Golden Nugget.
They have twice as much revenue than the second closest competitor and nearly 40% of the entire NJ market. Golden Nugget was the first online casino to reach 500 games in their portfolio, sourced from multiple tech partners successfully integrated into the same suite.
The casino management is taking the necessary risks to secure continuous grow. Golden Nugget has stayed ahead in innovation and launched the first live dealer games in New Jersey.
A testament to its success is the numerous skins launching off of Golden Nugget’s license and tech platforms, including SugarHouse Online Casino and Betfair. SugarHouse eventually split in order to access NBA sports betting, and it will be launching its own online casino in Pennsylvania to compete with Golden Nugget.
Golden Nugget Will Likely Have Challenges In PA
Pennsylvania is a larger state. PA has a population of $12.8 million versus $9 million for New Jersey. That’s some 30% percent more people that may potentially sway the balance between casino operators.
Because Golden Nugget has been dominating the NJ market, it’s perceivable that every other casino operator has studied their strategy in depth and will be launching their products with that in mind. We’ll undoubtedly see many similar products in place by PA operators, and especially SugarHouse which has deep connections with Golden Nugget in New Jersey.
The Pennsylvania Lottery is also a potential competitor. The lottery provides games which are very similar to online slots. That’s a controversial move which meets a lot of resistance by local casinos, because the PA lottery is side-stepping the license requirement as well as the 36% tax on online gaming profits.
Either way, Golden Nugget Online Casino PA should be profitable. The only question is, how much?