Revenues from Online Poker in New Jersey Plummet in April5 years ago
New Jersey Igaming revenue report for April 2015 showed disappointing results as revenues of the poker sites in the state were down. While April's poker earnings were 10.8% lower than in March, overall strength of New Jersey's Igaming market has continued to improve in April.
NewJerseyscasinos.com reported that even though there is decrease in New Jersey’s Igaming profits when compared to March, results are a lot more positive than it seems. The combined online and casino profit results from April this year showed increase of 11.1% compared to April of 2014. This result shows that Igaming market in New Jersey continues to grow.
Golden Nugget Atlantic City which houses GoldenNuggetCasino.com and BetfairCasino.com was the only online licensed operator that posted improvement in April 2015. Golden Nugget Atlantic City became the second most profitable license holder and top performer of the month after it raked in $3,404,446 in April.
However the latest round of financial results for New Jersey’s online poker sites is pretty much disappointing, especially now when poker is trying to keep pace with casino games in NJ. Currently only Nevada and Delaware are sharing poker player’s pools for their online poker market which showed great results.
New Jersey is very optimistic when it comes to their Igaming market, claiming that the market is moving in right direction. However the industry is not growing as quickly as operators would like as the report demonstrated that four sites that offer poker in NJ raked just over $2m in April.
Poker may still be behind casinos in terms of the revenue, but the pending introduction of PokerStars to the market could change that.
State is currently waiting for the arrival of PokerStars, the largest online poker site in the world, which should certainly raise interest for poker. However, arrival of the global giant could seriously affect other poker platforms in the state and PokerStars could easily scoop majority of new players.
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