July 16 2014, by Steve Ruddock

NJ iGaming Revenue Falls for Third Month; Golden Nugget Bucks Trend

The New Jersey Division of Gaming Enforcement recently released the iGaming revenue numbers for June and for the third consecutive month New Jersey’s online gambling revenue has fallen, with June’s numbers coming in at $9.5 million, a near 10% drop from May’s numbers.

Cumulatively, the NJ online gambling industry has experienced a somewhat disturbing 36% drop over the past three months.

Before you become too concerned over the latest DGE numbers, let’s first take a closer look and see what factors are in play, such as the historical trends of the online poker industry during these months.

The 10% drop in online poker revenue from May to June is actually faring better than the decline the global online poker industry has undergone during the same time period (over 13%), a historical trend almost certainly caused by the World Series of Poker. Even though the market is down over 1/3 since March, things seem to be leveling off and we should start to see some positive growth as we head into the post-WSOP months of July and August.

By the time the leaves start to fall we are likely to see a very strong recovery from the New Jersey online poker industry as seasonal traffic increases and the sites continue to improve.

WSOP.com and Party/Borgata neck-and-neck

After dominating month after month since the industry launched last November the partnership of partypoker and Borgata have seen their seemingly insurmountable lead nearly surmounted, as Caesars and their WSOP.com and 888 branded online poker rooms continue to close the gap on the tandem of partypoker and Borgata.

The discrepancy was down to about $100,000 between the two in June after being over double that amount back in January:

  • Borgata online poker revenue -$1,075,293
  • Caesars online poker revenue -$942,369

In January those numbers read:

  • Borgata online poker revenue -$1,838,937
  • Caesars online poker revenue -$1,515,141

The Golden Nugget prospers

Despite the month over month declines one operator has continued to make gains, The Golden Nugget. With online casino revenue down some 8.5% in June the Golden Nugget managed to post a 16% gain, with revenue of over $710k for the month.

Despite the downward trend in revenue, the Golden Nugget also managed to increase their revenue last month, making them the only online operator in the state to post gains in both May and June.

The Golden Nugget now boasts roughly a 10% market share of New Jersey’s online casino

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