Online poker revenue dropped to an all-time low in September generating only $1.6 million in revenue from virtual ring games and tournaments, according to figures released by the New Jersey Division of Gaming Enforcement (DGE).
Prior to last month, the low point for New Jersey online poker revenue occurred in June 2017 ($1.7 million). The market’s lowest month comes despite the liquidity sharing agreement which began its first full month in May 2018.
The All American Poker Network (AAPN), comprised of WSOP.com and 888poker, is the only operator positioned to take advantage of New Jersey partnering with Nevada and Delaware to share player liquidity. AAPN has posted five consecutive months of market-leading revenue figures since the inception of shared liquidity in New Jersey, while the remainder of the operators continue to suffer from the segregation of the market.
Over the last 19 months, the only month to show a year-over-year increase in revenue for the total online poker market was June 2018. As a point of reference, poker rooms on the AAPN posted a 19.5% annual increase while poker rooms under the Borgata and Resorts licenses posted losses of 36.8% and 23.9% respectively.
Online casino games continued their successful run posting another record high last month with $24.1 million in revenue. Golden Nugget continued to top the market with $9.3 million reported.
The advent of online sports betting in August has caused overall igaming figures to grow, spiking last month. Of the $38.3 million in igaming revenue during September, 33% came from online sports bets. In fact, of the nearly $24 million generated by sports betting last month (including bets placed at land-based casinos and racetracks), 53% of the revenue generated from those bets was collected online.