Online poker sites in New Jersey experienced a month-to-month revenue decrease of 7.3% in February, breaking a streak of four consecutive months of gains.
The two networks in operation tallied $1,994,065 in ipoker revenue last month, down from January’s total of $2,151,232. The shortened month of 29 days in February is partially to blame.
A year-to-year comparison shows a decrease of just 2.5%. In February 2015, WSOP.com, 888poker NJ, Partypoker NJ and BorgataPoker collectively took in revenue of $2,045,655.
Excluding virtual poker, revenue from online gambling increased for a sixth straight month. New Jersey’s gaming sites recorded $12,755,555 in revenue, outpacing the $12,478,841 collected in January. February’s total is the highest ever, as Garden State igaming is currently enjoying its best run since launch.
Combining the February ipoker revenue total of $1,994,065 with the $12,755,555 obtained from online casino games results in an overall igaming revenue figure of $14,749,620. That total is also the highest ever, eclipsing the previous record of $14,630,073 set in January.
Year-to-year data finds that New Jersey’s revenue from online gambling increased a robust 41.8%. February 2015 saw the state’s igaming sites collect just $10,404,367.
Revenue totals will look a bit different in future months, as PokerStars will join the New Jersey igaming market on Wednesday, March 16. A soft launch will commence on that date with limited hours of operation and a cap of 500 players.
The test phase is scheduled to last for five days as the New Jersey Division of Gaming Enforcement makes sure that operations are running smoothly and that the software of PokerStars NJ is up to snuff. Round-the-clock online gambling kicks in on Saturday, March 19, but the official launch date when everybody located within New Jersey can log on and play is set for Monday, March 21.
Many industry observers figure PokerStars NJ to grab a large chunk of the market following their much anticipated arrival. Players in New Jersey have yet to try the lottery-style hyper-turbo jackpot SitNGos known as Spin & Go that have found favor among players at PokerStars dot-com.
A marketing push extolling the exciting and fun aspects of Spin & Go may follow. Perhaps a few milestone hand promotions are also on the horizon, as PokerStars NJ plants its first foot in the regulated U.S. market.
PokerStars’ arrival is expected to increase the marketing spend of its competition, which may result in New jersey igaming revenue totals continuing on their record-breaking trajectory. Hopefully, action on the poker tables will increase as well.