New Jersey poker revenues dip 14% as PokerStars bounce dissipates
Poker revenues hit $2m but online casino continues rapid growth trajectory
New Jersey posted a 23% jump in online gaming revenues to $20.8m in April, as online casino continued to prop up a struggling poker vertical.
Online casino grew 31% to $18.9m, while poker dropped 14% year-on-year to $2m, suffering in comparison to last April, which marked PokerStars’ first full month in the market.
“It’s not clear that New Jersey will be able to maintain much – or any – of the gains realized over the last 12 months from the entrance of PokerStars,” Eilers & Krejcik Gaming said in a note.
“If that’s the case, then the remainder of 2017 will likely see poker revenue drift closer to $1.5m than $2.5m.”
However the story was more positive in casino which was essentially flat compared with a record-setting March, when accounting for the fewer days in the month.
The Golden Nugget and its licensees Betfair and SugarHouse continued to lead the market, but slipped back around 10% from April to $5.4m.
Borgata held on to second place in the market with revenues of $4.2m, followed by Tropicana with $3.9m, Resorts with $3.7m and Caesars Interactive with $3.5m.
Elsewhere, Delaware rebounded from a rough March, increasing revenues by almost a third sequentially to $203,000.