New Jersey online poker operators generated just under $1.8 million in revenue during the month of February, according to figures released by the state’s Division of Gaming Enforcement.
Total online poker revenue in February was down less than 1% on an annual basis, but given that February 2020 had an extra day as a result of leap year, the prorated decline was actually closer to 4%. Compared to January 2020 (a month with two additional days), revenue last month was down 5%.
January marked the second consecutive month of sequential growth since the market reached its lowest point on record in November 2018, but that is more a result of the seasonality of online poker than an indication the market is growing.
It continues to be a relatively flat market, with no month in the last half year exceeding more than a 5% annual drop and one month (September 2019) posting a 2% increase. While down months in five of six months may not seem flat, nearly all months in the two years prior posted double-digit declines, so it is a marked slowdown in the decline of prior years.
The All-American Poker Network (AAPN), housing the online poker rooms operating under the Caesars license, was the only operator to post an annual increase last month with $811,000, good for a 3% bump on last year and 45% of the overall market.
PokerStars, operating under Resorts’ license, generated $531k, a 30% market share, and the MGM/partypoker network, operating under the Borgata license, reported $455k representing a 25% share of the market.
Online casino games generated $50.2 million in revenue last month, down from the $53.3 million posted in January. Again, the lower amount is due in part to two fewer days in February. Sequentially, casino revenue was down 5.75%, but on an annual basis, revenue was up nearly 68%.
Online sports betting in New Jersey dropped significantly in February after posting its best month in January. Big losses on the Super Bowl drove revenue down at online sportsbooks to $16.2 million from the $46.7 million in January.