New Jersey iGaming Revenues Soar 42% in February

New Jersey’s online gambling market finished 2015 higher by 21% with $149 million in revenues having been generated throughout the year. 2016 has started on a positive note, too, and after producing record revenues of $14.6 million in January, the Garden State has excelled itself once more, this time with revenues coming in at an impressive $14.75 million, a massive 41.8% higher compared to the $10.4 million that was collected in the same month last year.
The fly in the ointment, however, was online poker which saw its revenues fall 2.5% to $1.99 million from $2.045 million for the same month a year earlier. As a result, New Jersey’s iPoker offering now represents just 13.5% of overall internet gambling revenue, down from the 19.7% market share it held in 2015.
Online casino games, on the other hand, reported $12.75 million in revenues, representing six months of consecutive growth for the vertical, and a huge 52.3% increase compared to February last year. As a result, online casino games now account for a whopping 86.5% of total online gambling revenues, up by 80.3% versus 2015.
Leading the New Jersey iGaming market in terms of revenues is Borgata/Party Poker with a 28.7% share of the business, followed by Golden Nugget/BetFair (21.1%), Tropicana (20.7%), Caesar’s Interactive (20.5%), and finally Resorts (8.9%).
This month, however, the Resorts/PokerStars partnership is expected to launch its new product, with an initial soft launch taking place on March 16th, prior to a full real-money launch on Monday, March 21st. PokerStars’ entry in New Jersey is expected to increase the size of the market, as well as the marketing expenditure of its rivals, thus contributing to further record New Jersey iGaming revenue going forward.
When the $190 million produced by Atlantic City’s eight land-based casinos are included in the mix, New Jersey generated a total of $204.7 million in February, higher by 14.7% versus the $178.4 million collected in February 2015.  Commenting on the results, Casino Control Commission chairman, Matt Levinson explained:
“It’s always positive to see casino revenues going up, and there were a lot of factors that combined to make February a good month. Compared to last year, the weather was great and with Leap Year, last month had one extra day.”

Poker News
UK's Poker Sector Just 5% of Online Gambling Market
27 Oct 2020
A major outage by GeoComply last Thursday left several online poker players with nowhere to play. GeoComply is a geolocation surface used by most online poker sites in the US. It determines where players are physically located which online poker sites need to know so ensure only legal players are using their sites. When GeoComply
New Jersey iPoker Down 2.8% to $1.91m in October
07 Jul 2020
Atlantic City Casinos may have just reopened following their lengthy COVID-19 imposed, but a new bill filed in New Jersey last week could see their monopoly on live poker come to an end. Republican Assemblyman Ronald Dancer filed A4365 last week that, if made law, would allow New Jersey horse racing tracks to open poker
NJ All Time Revenue Record
15 May 2020
The COVID-19 pandemic continues to be a boom for the New Jersey online poker industry, as they reported record revenues for the month of April. April revenues were expected to be massive following a record-setting month in March. Before the pandemic shuttered casinos and poker rooms in Atlantic City and drove all poker players inside,
new jersey lawsuit
16 Apr 2020
The COVID-19 pandemic that shuttered brick and mortar casinos has been a boom in revenues for New Jersey online poker and other forms of state gambling. The New Jersey Department of Gaming Enforcement released the March revenue numbers earlier this week and online poker revenues set new records. The online poker revenues in New Jersey