The New Jersey online poker market declined again in March 2022, down 6% to $2.5 million. It is now the 13th month in decline.
Two years ago, the market began to boom with the outbreak of the coronavirus — revenue soared to $3.63 million that month and it stayed high for months afterward. The market remains up 33% on March three years ago ( $1.9 million in March 2019 ), suggesting an underlying CAGR of 10%.
Borgata (also operating under brands BetMGM and partypoker) remains on top of the market with a 38.8% market share and revenue of $982k. It also managed growth of 2.6% year-over-year.,
Caesars (WSOP, 888) is second at $907k, declining 8% annually. Resorts (PokerStars) sits in last at $642k — a position it has been in now for 16 months — off 15% on where it was a year ago.
New Jersey online casino revenue once again hit the near-inevitable new market high, with licensees generating $138 million. The annual growth rate is a very healthy-sounding 23%, though that is notably much lower than previous months of 30% to 40%.
Market share remains close at the top, with Borgata just holding on to the lead and Golden Nugget close behind. The pair reported $40.4 and $38.3 million in revenue, respectively — 29% and 28% shares in the market.
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