New Jersey online gambling and poker revenue was up year-over-year in May, but down from April, in recently released revenue figures from the Division of Gaming Enforcement.
The figures represent a cooling off of the online poker and gambling market after PokerStars’ entrance into the New Jersey market in the middle of March. There had been several months in which total monthly revenue figures had set records for the short history of online gambling in the Garden State.
But the entrance of PokerStars still appears to have helped the bottom line, as NJ online casino and poker revenue was up 33 percent for May 2016 vs. May of last year.
Here is how it broke down, year over year:
Online poker revenue: May ‘16: $2.57 million | May ’15: $1.93 million | Change: +$644K
Online casino revenue: May ‘16: $13.98 million | May ‘15: $10.55 million | Change: +$3.43 million
Total online revenue: May ‘16 $16.55 million | May ‘15: $12.48 million | Change: +$4.07 million
All of those figures represent about a 33 percent increase, YoY. Total gaming win for NJ’s online casinos, to date, is up more than $18 million from last year.
And here is a look at May compared with April of this year:
Online poker revenue: May ‘16: $2.57 million | April ’16: $2.59 million
Online casino revenue: May ‘16: $13.98 million | April ’16: $14.40 million
Total online revenue: May ‘16: $16.55 million | April ’16: $16.98 million
The total $430,000 revenue dip from April to May is exacerbated when you consider May has one more day.
Nearly every operator saw declines from April to May in both poker and casino. That included PokerStars, which had taken over the market share lead in its first month and a half of operation in New Jersey. It still enjoys that lead, but it’s numbers leveled off in May, down two percent to $1.15 million.
The worst month of any operator came for PokerStars’ land-based partner, Resorts Casino, which saw revenue down nearly 20 percent, to $1.84 million.
Who saw gains?
- Caesars saw an uptick for both its online casino offering and its online poker platform (WSOP / 888). Overall, gaming revenue was up about three percent to $3.26 million. The poker offering likely benefited from the lead-in to the World Series of Poker in Las Vegas, which is going on now.
- Tropicana also saw gains, with its casino offerings taking in $3.15 million, also up about three percent.
After the heady months of March and April, it’s apparent that that the online gambling industry has once again normalized in New Jersey. And while the summer months might not be abysmal, there’s not likely to be any possibility of all-time records again until the fall or winter.
Overall gaming revenue in the state was down year over year for May; this May saw total revenue of $203.3 million, a decrease of $5.3 million. Total gaming taxes in March were $17.3 million.