- Online poker revenues in New Jersey dropped below the $2 million mark in October for the first time in the state’s 11 month history of offering igaming and represent the second consecutive declining month.
- The Borgata, which operates on, and carries the license for the partypoker network, reported $1,056,711 in revenue, a 9.21% decrease from September.
- Caesars which operates the WSOP.com brand, and carries the license for the 888 poker network, held steady with a mere .37% dip.
- The loss of Ultimate Poker in September might seem to explain the decrease in revenue, however online poker revenues under both the Borgata and Caesars licenses have dip to their lowest levels since their inception.
During the time of year when online poker revenues are supposed to be heading toward their peak, the New Jersey Division of Gaming Enforcement has released figures that indicate the opposite. Online poker revenues in New Jersey dropped below the $2 million mark in October for the first time in the state’s 11 month history of offering igaming, and represent the second consecutive declining month.
The Borgata, which operates on, and carries the license for the partypoker network, reported $1,056,711 in revenue, a 9.21% decrease from September. Caesars which operates the WSOP.com brand, and carries the license for the 888 poker network, held steady with a mere .37% dip.
Nearly 54% of the market share (based on revenue) is generated on the Borgata license, and with Ultimate Poker halting operations in September, the remaining 46% of revenue generated is done so under the Caesars license. By virtue of declining revenue under the Borgata license and revenue under the Caesars license holding steady, Caesars has gained a 2% market share over the previous month when it held 44% of the market.
Overall, online poker revenues reported for October totaled $1,967,904, down $117,391 (5.63%) from September. On a daily basis—October has 31 days as compared to 30 in September— online poker revenues show an 8.67% drop.
The loss of Ultimate Poker in September might seem to explain the decrease in revenue, however online poker revenues under both the Borgata and Caesars licenses have dipped to their lowest levels since their inception.
Though the online poker cash game traffic in New Jersey still maintains a comfortable lead over its Nevada counterpart, that gap will shrink once Nevada’s partnership with Delaware to share their player pools is implemented in early 2015.
Online gaming revenues as a whole, dropped to $9.5 million in October from $10 million reported in September. The total number of Internet gaming accounts created rose nearly 5% in October.
