Online gambling in New Jersey remained relatively flat in September thanks to an 11% dip in online poker revenues. The New Jersey Division of Gaming Enforcement (DGE) released win totals for the iGaming industry last week and the story remains the same as it has the rest of the year.
Online poker continues to struggle with no relief in sight. Meanwhile, table games have continued to be the savior of the industry, up 17.3% compared to last September. The industry is up 15.8% through September 2015.
Online Gambling Revenues Virtually Flat in September – Resorts Continues to Climb
Total internet gambling win for the state in September was $12.02 million in September compared to $12.21 million in August. Online poker was the reason behind the flat month. Table game revenue was up slightly at $10.25 million compared to $10.23 million in August.
Online poker saw an 11% drop in September, down to $1.77 million compared to $1.98 million a month earlier.
Golden Nugget and Resorts were the only properties to post gains in September. Golden Nugget rose nearly 8% while Resorts continues to gain market share, up 22% from August. They should crack $1 million in revenue in October based on trends.
Borgata led all properties for win rate but also for losses in September. They dropped just under 8%. Caesars backed into the #2 spot for monthly revenue after Tropicana dropped nearly 7% in September. Caesars dropped just under 4% month-over-month.
Total internet win for each casino is as follows:
• Borgata – $3.38 million
• Caesars – $2.65 million
• Tropicana – $2.62 million
• Golden Nugget – $2.42 million
• Resorts – $944,299
September Total Gaming Up 20% Year-Over-Year
Not surprisingly, the industry continues it upward trend in September. Casinos earned $12.02 million during the month, up 20% from $10.01 million a year earlier for current operators. If you include the now defunct Ultimate Gaming, the industry was up 17.3% year-over-year.
Looking a bit closer at the numbers, it is the same story as the rest of the year. Online poker is down 15.1% from last year, down to just $1.77 million. Table games are up a staggering 25.6% year-over-year. Table games earned $10.25 million by themselves, up slightly from the $10.24 million earned by the entire industry during the same period in 2014.
Industry up 15.8% from 2014
Finally, looking at the industry as a whole, online gambling is up 15.8 percent from 2014. Last year, the industry took in $93.91 million through September compared to the $108.74 million collected this year.
Table games are up 28.3% through September, bringing in over $20 million more from last year. Online poker is down 22.4%, down to $17.96 million from $23.15 million last year through September.
Can Anything Stop the Online Poker Slide – The DGE Hopes PokerStars Can
The question now on industry analyst’s minds is what can be done to stop the online poker slide in New Jersey. We believed that the industry had reached bottom after slight gains last month, but that faith was squashed after September performance.
There appears to be little that anyone can do to right the course of online poker in the state. Some believe that even the return of PokerStars will not be enough to return the industry to prior levels.
The DGE hopes that those prognosticators are wrong and that the world’s largest online poker room will be able to reverse the course of the struggling industry. Many believe that PokerStars will have the majority of the market share in a short amount of time after launch, but will that is a market share of existing players or will players start returning due to PokerStars’ reentry to the United States? Time will tell and the DGE hopes that it tells a positive tale of growth and prosperity for the industry.
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