Market Monitor: New Jersey October 2022

Market Monitor: New Jersey October 2022 – The New Jersey online poker market has dipped again year-over-year, with operators reporting a combined $2.23 million. That represents a fall of 8% year-over-year. The one silver lining is that this is the best market performance in four months.

Among the three operators, the standout performer was Caesars, which grew 15% year-over-year, surpassing $1 million in revenue for the first time since July 2021. Its market share of 45% is one of its best outside of the months it hosted WSOP Online bracelet events.

At the other end of the spectrum, PokerStars (Resorts) reported revenue of $537k, tumbling to one of its lowest in recent history. Its market share of 24% is also one of its worst. Revenue has fallen 14% year-over-year.

It now sits far below Borgata, which hosts online poker rooms for BetMGM and partypoker. It reported $687k for a 31% market share. However, this license was the worst performer of the month, down 26% on the same month a year ago.

Meanwhile, NJ online casino revenue soared to yet another all-time high of $145 million. The 13% year-over-year growth is well below the 40%+ enjoyed throughout 2021, but it shows operators are still finding ways to expand their businesses.

The battle among the top three has also intensified. Borgata’s licensed casinos — BetMGM, Pala, and Scores Casino — remain on top but are now only narrowly ahead of Resorts (DraftKings, Mohegan, PokerStars) and Golden Nugget (Sugarhouse, Twinspires).

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