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New Jersey’s online gaming market enjoyed an upswing in July, in part because anticipation of PokerStars’ reemergence was energizing. (Image: thecitizen.com)
New Jersey’s online poker market enjoyed an upswing in July, thanks in part to rumors that PokerStars could be set to join the action. Following a sustained period of decline stretching back over the last three months, the Garden State’s virtual poker market recorded a $600,000 boost in revenue last month.
Between the state’s six licensed operators, a combined $10.1 million in revenue was recorded, ending a three-month run of falling profits. Looking specifically at the individual stats, casino games made a $7.9 million contribution to the monthly takings.
However, despite this haul representing a 5 percent improvement in the amount of online casino dollars collected in recent months, it was online poker that really thrived thanks to a 10 percent increase in profits to $2.2 million. Coupled with this improved turnover was a 7.1 percent increase in the number of online players (now 405,000) grinding in New Jersey.
Site-By-Site Breakdown
Leading the charge across the state is the formidable duo of the Borgata and Bwin.party. Continuing its dominance in New Jersey, the virtual behemoth raked in just under $3.2 million last month, with $1.1 million of that total coming from poker (3 percent increase). Clinging onto Bwin.party’s coattails and enjoying a 4 percent upswing in July was Caesars Interactive New Jersey. On top of casino profits improving by 3 percent to $1.7 million, Caesars’ online poker platforms saw a 6 percent growth ($1 million) compared to June’s takings.
Casting an eye over the other players in the Garden State, the following results were recorded in July:
Tropicana/Gamesys tandem’s casino-only raked in just under $2m (+13 percent).
Golden Nugget’s casino-only site earned $945k (+25 percent).
Trump Plaza/Betfair broke its recent bad run of form to pull in $676k (+35 percent). However, it’s important to note that only $1 of this total was from poker.
Trump Taj Mahal/Ultimate Gaming earned $587k (+18 percent).
Rumors Cause Growth
Despite not hitting the $11.9 million high the industry saw in March, 2014, the reversal in fortune is certainly encouraging for operators in New Jersey. One of the main reasons being touted for this improved set of results is the possible return of PokerStars to the US market. Earlier this week, NJPokerOnline wrote a report which suggested that PokerStars is in the process of finalizing its move into New Jersey.
Although there has been no official word on when the operator will be given access to the fledgling market, the rumors have certainly helped bolster the market. Aside from grinders anticipating the return of the world’s largest online poker site, many New Jersey’s operators will also be waiting for PokerStars to join the action.
The site’s potential presence will undoubtedly shake-up the current hierarchy, but it’s also likely to improve the number of players joining the virtual market. That fact, coupled with the prospect of PayPal opening up its platform to the US gaming industry, could certainly cause a spike in New Jersey’s online gaming fortunes.
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