By
Jerry Smith
Staff Writer Updated: 12/18/2019
Jerry’s greatest advantage is his extensive experience on the casino floor. His time as a casino manager taught him everything about what makes a player tick. Besides being a skilled poker player, he has deep knowledge of all live table games and gambling regulations in the US.
2019 likely to end on a low note for New Jersey online poker, Photo by Pixabay
According to the latest figures which were released by the New Jersey Division of Gaming Enforcement (DGE), all online poker rooms in New Jersey produced combined revenue of just $1.5 million. This marks another all-time low figure for the state. Unless online poker operators in the state can reverse a two-month downsizing in the remaining weeks of the year, it seems that 2019 will end on a low note.
Operators managed to rake in a total of $1,492,494 in November this year. Out of the three licensed operators in the state, Caesar Interactive brought in the highest revenue at $681,677. PokerStars follows, with a total of $480,020 in revenue, with Borgata and Partypoker coming in third with $393,797.
A year-on-year comparison shows that revenue from November 2019 declined by 4.4 percent, which indicates the continuing decline of the market. Despite this, there is a silver lining, and online poker operators still have a chance of seeing better years. The rate of decline has slowed down significantly over the last few months, which may indicate the market is slowly stabilizing. In fact, the annual declines in 2019 are lower than in 2018 when considered on a monthly basis.
Till now, online poker in New Jersey has generated a total of $19.2 million this year, and so far, the market has witnessed just a two percent decline when compared to the figures of the same period last year. To put things into context, it is important to note that the rate of decline from 2017 to 2018 was much higher at 14 percent. During the first eleven months of 2018, $19.2 million was collected as revenue, while operators in the state managed to bring in $22.3 million in 2017 during the same period of time.
On top of this, in 2019, the market experienced year-over-year growth in more months than the last two years combined. All these points to the possibility of a stabilizing online poker market in New Jersey.
While the online market in New Jersey may be declining, the online casino market is seeing a rise, with revenues for November hitting as high as $47 million. With a total revenue of $47,645, 412, there has been a 9.3 increase from the previous month, October’s figures. On top of this, compared to November 2018 revenue, the revenue for November 2019 increased significantly as well.
Although online gaming and sports betting are growing more popular in the state, it appears that online poker continues to take a dip. However, operators can hope for things to turn around and for the market to stabilize with the addition of shared liquidity. Currently, the All American Poker Network (AAPN) is the only network in the state that allows players from other states to compete in its cash games and tournament tables.
Another development that may work in favor of the market is the neighboring state, Michigan, working on legalizing online poker. This may help in generating momentum in New Jersey.
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