New Jersey online poker is in a healthy state as gambling sites recorded a growth in revenue. Licensed sites showed overall gaming revenue of $16.4 million for June, a 40 percent jump on the same time last year.
While many sites enjoy legalized online casino games (a 46.8 percent year-on-year surge), poker is certainly holding its own. For online Hold’em and Omaha providers, sites licensed in the Garden State recorded a 7.3 percent jump in profits.
Poker take for the first half of 2016 was $13.73 million. And with the newly-revived PokerStars now plying their trade in New Jersey, we could see those figures rise in the next year-on-year comparisons.
The New Jersey Division of Gaming Enforcement figures showed that Borgata’s group of poker and casino sites performed best last month.
The GVC-owned group, which also includes partypoker, recorded poker revenue of $589,002 in June, some way below the $3.1 million it accrued in gaming/casino revenue. Golden Nugget/Betfair was slightly behind on $3.5 million in total gaming win, with Tropicana/Virgin and Caesars Interactive NJ next in the line. Resorts AC, which acts as PokerStars NJ’s official land-based partner in the state, performed best in terms of online poker revenue. The site posted poker takings of $778,070.
Borgata/partypoker NJ still leads the way in total revenue since online gambling became legal in New Jersey three years ago. The group recorded total gaming win of $118,452,836 since regulators opened the doors in 2013. Caesars/Harrah’s/888 is a distant second on $86,695,275.
New Jersey’s online poker industry could receive a timely boost if a liquidity plan with the UK goes ahead. The DGE has asked operators for advice on the viability of a pool-sharing system. It would mean that New Jersey’s online poker players who are currently restricted to competing in-state, could then compete against those based in the UK.
DGE Director, David Rebuck, cited the UK’s long-standing friendliness to online poker when he said:
“With nine million people in New Jersey, and more than 63 million in the United Kingdom, this would mean a massive increase in liquidity for New Jersey operators.
“Even when you discount children and non-gamblers, it gives us access to a market that is very familiar with online gaming. That number is one-fifth of the total US population.”
The shared pools could run into all sorts of issues, namely geolocation, IDs and figuring out different tax rates. However, it could be a no-brainer for firms like Partypoker, PokerStars, and 888, all of whom are licensed and operate in both jurisdictions already.
New Jersey allows online casino games too, unlike Nevada with its poker-only prohibition. If a poker liquidity deal can be put in place, casino pools such as progressive slots jackpots could also be on the cards. Regulators will be watching the UK’s Brexit negotiations carefully as the nation takes up to two years to separate itself from the European Union. That could end up being a very long two years for the countries’ online gaming operators.