BUSINESS

New Jersey online gambling market weathers summer doldrums

TAGs: New Jersey Online Gambling

new-jersey-online-gambling-summer-doldrumsNew Jersey’s regulated online gambling market continued tis winning ways in June, with revenue rising 22.8% year-on-year to $11.7m.

June’s revenue total is 6.5% less than the market generated in May 2015, but hey, it’s summertime and the state experienced a larger (9.5%) decline from May to June last year, so, er, progress! The online casino vertical generated $9,865,000 (+32% year-on-year, -7.5% sequentially) while online poker contributed $1.835,000 (-10.4% year-on-year, -4.4% sequentially).

As ever, the Borgata/Bwin.party/Pala Interactive combo led the pack with $3.55m in total revenue, down around $400k from May’s total. The loss was shared between verticals, with casino down around $250k to $2.6m while poker shed $150k to $950k.

Caesars Interactive Entertainment New Jersey reported total revenue of $2.64m, a slight improvement over the previous month’s $2.6m and just enough to vault it back into second place on the revenue chart. CIE’s casino operations reported $1.75m in revenue while poker contributed $885m, both roughly on par with the previous month’s performance.

CIE only narrowly edged out two of the state’s casino-only operators, with the Tropicana reporting $2.56m (essentially flat from May’s numbers) and the Golden Nugget reporting $2.53m (down 17% sequentially). Resorts Casino Hotel, which only began online operations this February, reported revenue of $400k, up from $325k in May and a new monthly record for the fledgling site.

For the year-to-date, the state’s licensed online operators have generated revenue of just under $72m, a 14.2% improvement over the first six months of 2014. The casino vertical is up 28.6% over this span, while poker revenue has fallen 28.1%.

Meanwhile, rumors continue to swirl that the state Division of Gaming Enforcement (DGE) is close to issuing its long awaited decision on if/when Amaya Gaming‘s PokerStars brand will be allowed to launch in New Jersey. Stars has a pending online poker partnership with Resorts that the property is dying to launch. Even non-affiliated operators are hotly anticipating Stars’ arrival, with Pala Interactive CEO Jim Ryan recently saying his site was holding off launching its own online poker site in the state until Stars was open for business.

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