The New Jersey online poker industry had a bad month of June. In fact, it was the worst month ever, with revenues hitting a record-low $1.7 million.
On a positive note, overall online gambling revenue in the Garden State hit the $20 million mark for the fourth consecutive month.
There’s no need for poker players to be too alarmed, however. It isn’t the end of the world and poker sites aren’t going to start folding.
There could be an explanation for the brutal month, but there isn’t any definitive proof to back it up. Many area pros headed out west to Las Vegas last month for the World Series of Poker.
That may not explain the entire reason for online poker’s downswing in the Garden State. But we’re looking at this from a glass half-full standpoint.
In total, a report released by the New Jersey Division of Gaming Enforcement (DGE) indicated revenues from online poker last month at $1,735,634. The previous worst month, September 2015, revenues hit $1,771,123.
Not What Everyone Expected
In March 2016, PokerStars entered the New Jersey market, the first time the world’s largest online poker site operated in the United States since Black Friday in 2011.
The poker site’s addition was expected to spark the state’s poker industry.
That hasn’t been the case. PokerStars has found stiff competition from sites such as 888poker, WSOP.com, and Borgata. The state’s best month was September 2014 ($3.4 million), long before PokerStars entered the market.
Atlantic City Benefits from Online Gambling
Online poker’s struggles haven’t harmed Atlantic City casinos. Overall, online gambling has caused an uptick in revenues generated in the city’s brick-and-mortar casinos.
Atlantic City casinos reported a 1.8-percent increase last month overall compared to June 2016. The revenues generated in the casinos were nearly identical as the same month a year ago, but the 23-percent increase in online gambling revenue helped boost the overall bottom line.
Even better news, the Trump Taj Mahal, originally owned by President Donald Trump, was factored into the June 2016 figures.
The casino is now defunct and wasn’t operational during June 2017. If you exclude June numbers, the state saw a 10.8-percent increase in June compared to the same month last year.
Revenue Generated by New Jersey Online Casinos (June 2017)
Golden Nugget ($5,576,526)