For the second consecutive month, online poker revenues in the state of New Jersey have fallen to their lowest levels since the state began offering online poker at the end of November last year.
According to figures released by the New Jersey Division of Gaming Enforcement on Friday, revenue fell by $90,301 or 4.59%, compared to that of revenue figures reported for October. October’s number had represented a low point for New Jersey online poker revenue, dropping below $2 million for the first time.
A total of $1,877,603 was generated in November by the two remaining licensees: Borgata, which holds the license for partypoker NJ and Borgata Poker, and Caesars, which holds the license for WSOP NJ and 888 NJ.
Though still substantial, the dip in revenue on a daily basis seems less bleak. With October having one more day than November, the daily percentage dip is a mere 1.4%.
The combination of partypoker and the Borgata now owns 53% of the marke based on online poker revenue, with the remaining 47% controlled by the partnership of WSOP and 888.
The sites under the Caesars license have been gaining ground steadily over the last three months, but are still below their high water mark of 48.38% achieved in February.
Online gaming as a whole fared worse than online poker, notching an 8.42% decrease from month-to-month with a reported $8.7 million in internet gaming win down from $9.5 million reported for October.
Over 27,000 new Internet gaming accounts were created in New Jersey in the month of November.
In total since its inception, online poker has generated over $27 million in revenue in the state.
Online poker in New Jersey seems to be bucking the traditional seasonal trend experienced globally which typically shows a boost in participation over the winter months. It is still too early to tell if what we are seeing will be typical of the New Jersey market, or if the higher revenue figures realized in the beginning of the year were attributable to the novelty of a new market.
