NJ online poker revenue continues to plummet reaching a new low point for 2019 during the month of April. 2o46f
According to revenue figures released by the state’s New Jersey brought in just $1.67 million in revenue in April. Last year, during the same period, licensed operators generated over $1.7 million.
April revenue figures represent a drop of 5.3% year-on-year, a trend that has become a norm with online poker in the state, and a 12.4% decrease on a monthly basis. April’s revenues also represent the lowest level for any April since the regulated online poker market opened in November 2013.
Each of the three licensed operators experienced declining revenue figures on a sequential basis.
PokerStars through its partnership with Resorts reported $559,074 in revenue, increasing its market share slightly to 33.5% and representing a drop of 8.91% from March figures, during which the operator generated over $600,000 but held a market share of 32.2%.
The partnership of Borgata/partypoker raked in the third lowest amount since November 2013 with a total of $390,96 for a market share of just 23.4%. Only twice since the online poker market went live in the Garden State has Borgata/partypoker reported revenues lower than in April 2019. The rooms under the Borgata license also saw a significant drop of 19.11% from March figures when revenues totaled $483,326.
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Meanwhile, the market leader, WSOP/888, operating on the Spring Online Championships series in April boasting over $1.3 million in prize money.
Ever since the DGE cleared shared liquidity in May 2018, allowing operators to share their player pools with their players in Delaware, the AAPN is the only operator to post revenue increases year-over-year thanks to it holding a license in the other states. It also led the market on a monthly basis every month since the implementation of shared liquidity except in the month of October 2018, which saw PokerStars lead the market that month.
However, the revenues of AAPN poker rooms could see a sharp decline thanks to the reinterpretation of the Wire Act by the US Department of Justice (DOJ) in January that would make cross-border liquidity sharing illegal. the new reinterpretation of the Wire Act.
Should the DOJ enforce the revised opinion on June 14, WSOP/888 network which shares liquidity between the three states could be severely impacted and see Resorts/PokerStars partnership return back to the number one position in the market.
While the matter is still in the courts, the WSOP/888 network has nine WSOP online bracelet events that are set to run on every Sunday and Wednesday throughout the next seven weeks.
New Jersey players will be allowed to participate in these online events that are scheduled to run ahead of the June 14 deadline set by the DOJ.
However, it still remains to be seen whether New Jersey players will be allowed to play events that take place after the looming deadline.