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$7.4 million First Month Revenue for New Jersey

New Jersey was the latest US state to launch an online gaming market when it did so late last year. The end of December did not only mark the end of 2013 but also marked the first full calendar month that the New Jersey market has been in operation.

Revenues for the first month of the new online gambling market are now in and if there is one word to describe New Jersey’s regime, it would be ‘encouraging.’

Total gross gaming revenues for December 2013 totalled $7.4 million in New Jersey, with online poker having made up the bulk of that amount. The revenue itself shows that there is potential for the New Jersey market to be a vital one in 2014.

That is particularly the case for two of the companies – Borgata and Caesars Interactive – who posted by far the largest revenues of all online gaming operators. Borgata posted a revenue of $3.34 million, $1.7 million of which came from poker via its partnership with PartyPoker in the state.

Caesars Interactive was the other company with highly notable revenue, having posted $2.03 million in the month of December. The World Series of Poker service, which is owned by Caesars, is currently the second largest poker operator in the state.

According to PokerScout, WSOP New Jersey has a seven-day player traffic average of 170 players. Party Borgata leads the way in the state, with 260 players averaged during the same time frame.

Three other online gaming operators announced revenues of over $400,000 for the month of December.

Although small in the context of global online poker sites, the current traffic numbers for Party Borgata and WSOP New Jersey are encouraging for the viability of an online poker market in the state.

That was also the analysis of Boyd Gaming (which runs Borgata) CEO Keith Smith who said his company was due for further growth in 2014 and beyond.

“We are extremely encouraged by Borgata’s performance during the first full month of online wagering,” he said. “Having New Jersey’s most trusted gaming brand has provided a solid foundation for our successful online launch.

“We are confident that as we refine our marketing efforts, improve the customer experience, and introduce our mobile product, we will further strengthen our leading position in online gaming. We have significant room for growth ahead of us.”

December’s numbers played out over a full year would make New Jersey’s online gambling revenue worth nearly $89 million annually. However, that may increase should new players enter the market as expected.

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