Online Gaming Revenues Slip In New Jersey For Month Of May
Last month saw record online gaming revenues in the state of New Jersey. This was mainly due to the entry of online poker giant PokerStars which resulted in four months of consecutive record revenues. Tuesday saw the New Jersey Division of Gaming Enforcement release their May figures which were up 32.6 % from the same period last year but were $500k less than those of April. Total revenues for May were $16.5m.
Total revenues in the Garden State were down 0.6% in May to $220 million compared to the $221,1m of May 2015. PokerStars online poker revenues were $1.15m which was $30k less than that of April. Once again the Borgata Hotel Casino & Spa led the pack with overall revenues of $3.95m for May. Caesars Interactive Entertainment New Jersey came in second place with $3.25m which was an increase of around $100k from April.
Overall year-to-year revenues in New Jersey casino rose 3.3 percent from $999.9 million for the first five months of last year to $1 billion for the first five months of this year. It remains to be seen if PokerStars can revive the New Jersey online gaming market as many believe it can. The progress of legalization of gambling in the US s till painfully slow and there needs to be many larger states like that of California offering real money gambling in order for the US to really be a force in global online gambling market.