Changes to PartyPoker Loyalty Program and $500K Guarantee Tournament
Online gambling in the state of New Jersey has reached its highest peak in traffic and revenue yet, and PokerStarsNJ is leading the way among online poker sites. Competitors suffered major losses as the first full month of PokerStars operating in the state of New Jersey contributed to over 30% growth of online poker traffic.
Great News For PokerStarsNJ
The figures, which were published by the Division of Gaming Enforcement show that the total gambling generated sum for April was $17M, a year-on-year growth of 34%! It seems that the New Jersey population were really longing for wagering action, as more and more operators gained their licences and started offering their services.
However, let’s talk about online poker more specifically. The management of competitor poker networks will surely spend the coming weeks huddled in meeting rooms, trying to decide on their plans of action to getting their traffic and revenue back. That comes after the news that PokerStarsNJ poached plenty of players off other networks and got in just under $3.5 million of revenue in April.
When you compare that to the revenue of PartyPoker at $725,000 and the combined incomes of WSOP and 888poker at just $664,000, you start to get the full picture. It appears that not only have PokerStarsNJ have launched their new site with a bang last March, but they’re also doing tremendously well in the state of New Jersey and other networks have much to think about.
Dominating the market after less than two months being in operation is a needed boost for Amaya, the parent company of PokerStars, which is being shaken by scandal after scandal. These include, but aren’t limited to, issuing refunds to their Sit & Go players and the CEO Maazov’s facing five charges in court. Nonetheless, PokerStarsNJ strong financial performance in the online poker market resonates with many and we expect the brand to continue on its growth path in the future.
Casino Games Still Make The Most Profit
Yet poker isn’t the only online gambling activity that’s regulated and permitted in the state of New Jersey. By far the most revenue is generated by casino activities. The biggest part of the total $17M revenue was from casino games – $14.4 million was taken in by sites.
Resorts Casino Hotel which is a partner of PokerStars, got in $3.5 million in revenue in April, almost doubling their revenue from March. From that, $2.3 million was casino revenue. Similarly, Borgata reported $4 million in revenue and the biggest chunk at $3.2 million was from casino activities. Lastly, Caesars Interactive Entertainment reported an improvement of 9%, bringing their total casino revenue to $2.5 million.
All in all, the New Jersey gambling market is flourishing and April was the fourth month in a row when record-breaking revenue amounts were reported by sites and operators. If the trend continues, we’ll see upturning growth charts for the rest of 2016.
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