- Online poker in New Jersey generated $4.5 million in revenue in May, up 250% on the same month a year ago.
- However, is it down on April 2020 in both absolute revenue and in year-over-year growth.
- Online sports betting revenue started to rebound in May too.
Online poker in the regulated state of New Jersey generated $4.5 million in revenue in May, up 250% on the same month a year ago. It is almost double the previous May high set in 2016.
However, it is down on April 2020 in both absolute revenue and in year-over-year growth. The month prior, revenue exceeded $5 million, and was up over 300% on April 2019. This suggests that the effects from coronavirus have already started to subside.
PokerStars, operating under the Resorts license, hung onto the pole position in the market, but by a hair’s breadth: $1.7464 million just out-pipped the $1.7458 generated by WSOP and 888 on the Caesars’ license.
Casino revenue continued its upwards trajectory, crossing $80 million in revenue for the first time in market history. It is more than double the revenue reported in May a year ago, and is the single biggest annual growth reported in the market.
Online sports betting revenue started to rebound in May too. After things plummeted to almost zero in April, things were back to over $10 million in revenue last month. That’s a decline year-over-year, but the dip is less than 30%—a remarkably strong recovery given that NBA and MLB are still postponed.
Total igaming revenue across all operators and products in May 2020 reached $96 million, the second highest in market history and almost double the revenue reported a year ago.
