Online poker revenue in the state of New Jersey hit a low point for 2019 last month as all operators combined generated $1.67 million, according to figures released by the state’s Division of Gaming Enforcement.
Last month also represents the lowest of six Aprils on record dating back to 2014. On an annual basis, revenue in the market dropped 5.3%, a trend that has become all to familiar for online poker rooms in the state. Over the course of the last 26 months, only twice have revenue figures increased over the year prior.
Sequentially, all operators saw revenues decline from the figures posted in March.
The poker rooms operating on the All American Poker Network (AAPN) under the Caesars license (WSOP.com and 888poker) continued to set the pace. The market leaders reporting revenue of $718,000 for the month, representing 43% of the total market.
Last month, PokerStars brought in $559,000, capturing 34% of the market. The partypoker network in conjunction with Borgata Poker generated $391,000 for a 23% market share. As a point of comparison, Resorts held the market lead last April with more than 45% of the total revenue collected.
Over the last year, the poker rooms on the AAPN outpaced the competition 11 times—the only exception coming in October 2018 when Resorts, through its partnership with PokerStars, briefly reclaimed its former position as market leader.
During that same period, the AAPN poker rooms were still the only ones to report any year-over-year growth. As a result of shared liquidity with its operations in Nevada and Delaware, AAPN has posted annual gains in every month since shared liquidity was cleared by the DGE.
However, that streak is in jeopardy, given the decision by the US Department of Justice to reinterpret the Wire Act in a way that would make cross-border liquidity sharing illegal. The matter is currently winding its way through the legal process, but unless there is relief by the courts, the DOJ plans on implementing enforcement of its revised opinion on June 14.
Over on the online casino side of the igaming market, operators combined to generate $35 million in revenue last month, marking the second highest month on record for virtual slots and table games.
Online sports wagering, the newest igaming vertical in New Jersey, also recorded its second highest month of revenue on record with $16.6 million generated. Highs in both casino games and online sports betting occurred in March.