For the third consecutive month, online poker revenue in New Jersey failed to reach the amount collected in the previous month.
The New Jersey Division of Gaming Enforcement (DGE) released revenue totals for June that showed almost a 10% decrease for Internet poker in comparison to May tabulations. Summer months typically find less players logging on at online poker sites industry-wide. Another reason for the decline may be the recently concluded WSOP in Las Vegas, which likely attracted a number of New Jersey online players.
The Party Borgata Network led the way among the state’s poker sites and networks, collecting $1,075,293 in ipoker revenue. That comes to almost 11% less than May.
Caesars Interactive and its partners were next in line, earning roughly $50,000 shy of $1 million. The decrease from the previous month amounted to slightly more than 8%. Ultimate Poker experienced an Internet poker revenue decline of 24%. Its take was only $30,420 in June.
Online gambling that includes casino games also posted lesser totals from May, roughly 9% for all gaming sites combined. Party Borgata’s decrease was 15%, while Caesars and 888 Holdings lost about $200,000 in all online gambling action when compared to the previous month. The other igaming sites showed mixed results, with Golden Nugget reporting an increase of 16% without operating a real-money poker site.
On the bright side, new player accounts created in New Jersey were up almost 8% in June. Thus far, 378,564 online gaming accounts have been opened since the November launch, more than 27,000 of those coming in June. However, players may have opened several accounts at the different sites available, making it hard to decipher exactly how many gamblers are located in the state.
In early July, the DGE changed its restrictions on the number of sites that licensed entities can operate, allowing up to five for each, eGR reported. Should operators take advantage of the modification, the market may become over-saturated.
The change and its effect will be closely monitored, with necessary adjustments made as situations warrant. Keep in mind that online gambling regulation within the U.S. remains in its early stages and may require tweaking from time to time. In that regard, New Jersey is acting as somewhat of a model or litmus test for other states that may be contemplating getting in on the game in the future.