In July, online poker revenue in the state of New Jersey reached its highest level since March and the second highest level in the past year. Operators in the state combined to collected $1.9 million in rake and tournament fees, according to figures released by the Division of Gaming Enforcement.
The online poker rooms operating under the Caesars license (WSOP.com and 888poker) continued to lead the competition and posted their second consecutive year-over-year increase during the month of July, reversing the previous trend of declining revenues during the mid-summer month.
Meanwhile, PokerStars, operating under the Resorts license, and the poker rooms operating under the Borgata license on the partypoker network, both posted their second consecutive decrease during July.
However, the increase reported by Caesars was greater than the combined decreases reported by the competition, resulting in 2019 surpassing the total poker revenue in the market in the same month last year.
The 2.1% annual increase in online poker revenue during July is only the fourth time the market has experienced an annual increase since February 2017, but it is the second consecutive month that the market has produced higher revenues than the previous year.
In absolute terms, Caesars reported $816,000 in revenue, Resorts reported $626,000, and Borgata trailed the market with $445,000. Only once in the last 15 months has Caesars failed to post the highest revenue in the market, with PokerStars surpassing the market leader in October of last year.
During those same 15 months, Caesars only failed to report a year-over-year increase once (May 2019) while both Borgata and Resorts posted annual decreases every month during that period. In fact, Resorts has only posted an annual increase once since entering the market and Borgata has only posted a year-over-year increase twice since December 2015.
Online casino games continued to be a bright spot for the igaming market in New Jersey last month. All operators combined to generate $37.4 million in revenue in July, surpassing the previous high mark of $37.2 million posted in March.
Online sports wagering in the state reached its highest level since April with $13.9 million in revenue, the majority of which (53%) was generated by FanDuel through its partnership with Meadowlands Racetrack.