Market Monitor: New Jersey July 2022 – Reported revenue from New Jersey online poker rooms took a dive in July, with the three active, licensed online poker rooms reporting a combined $2.3 million, down 26% year-over-year.
The dip is due to Caesars’ poker rooms lapping a tough comparative — a year ago , a huge online WSOP took place, drawing in big crowds. This time around, the festival took place mostly live in Las Vegas. Still, it remains the clear market leader in New Jersey, reporting $997k in revenue for a market share of 44%.
PokerStars (under the Resorts license) managed to reclaim second place with $662k in revenue and a 29% market share. It has sat at the bottom of the market for almost two years, so its return to the middle of the pack will be welcome news to the global online poker giant. In July, it reported year-over-year growth of 6.4%, the best among its peers.
For BetMGM Poker (under the Borgata license), it is a rare slip down to the bottom. That, back in March , it was in first place position underscores the market’s competitiveness.
New Jersey online casino revenue ticked up month-over-month to $134.4 million, an excellent rebound from the quieter summer period and the highest in four months. Year-over-year, revenue is up 13%, but that is notably the worst performance in four years and the second lowest on record. It suggests the unchecked growth that the market has enjoyed for some eight years may finally end.
Operators on the Bogata license, primarily BetMGM Casino, remain the leading online casino provider. Its market share of 32% is its best in a year thanks to annual growth of 19%, far exceeding the market average.
However, the standout performer was Resorts (primarily DraftKings), up 32% on the same month a year ago. It is its best month to date at just shy of $10 million in revenue. While it is well below the revenue of the Big Three (each reporting $30 million or more monthly), it sits far clear of its next largest competitor Hard Rock ($5.7 million) and Tropicana ($5.3 […]
Click here to view original web page at pokerfuse.com
