Market Monitor: New Jersey June 2022 – New Jersey online poker revenue was effectively flat year-over-year. The licensed operators in the state reported a combined $2.2 million in revenue, down just 0.7% on where the market was a year ago.
The market has been in decline for more than a year. With June falling less than a percentage point, it was, in fact, the market’s strongest performance in 16 months.
The market is half what it was in June two years ago, during the brief surge in the online poker industry during the coronavirus outbreak. Compared to the pre-pandemic June 2019, the market is up a healthy 24%, an equivalent CAGR of 10%.
The operators on the Caesars license — 888poker NJ and WSOP NJ — benefited from the live World Series of Poker running throughout the month. While this is hosted in Nevada, not New Jersey, the WSOP sites share liquidity across the two states. Increased activity in one state has a knock-on effect on the other, and the online bracelet events also attract a crowd.
Caesars, therefore, reported its best month since July 2021 with revenue of $960k, up 8% year-over-year. Its market share of 44% was also its best since last summer.
BetMGM Poker (under the Borgata license) suffered the most, with revenue dipping to $639k, down 13%. PokerStars (Resorts) was up slightly, but not enough to regain the second position in the market.
Online casino revenue fell for the fourth straight month, with operators reporting a combined $131 million in revenue. It is a growth of 21% year-over-year, but that is actually the worst performing month in four years.
Click here to view original web page at pokerfuse.com