Signs Of Life For New Jersey Online Gambling In July
Expectations are high for the State of New Jersey when it comes to online gambling. Of the three states operating legal internet gambling the Garden State was toted to potentially earn up to $1 billion in online gambling revenues per year. Of course this has fallen way short.
The last three months have seen declining revenues which has got many concerned as to the the viability of a profitable online poker player base in New Jersey. The figures for July have just been released by the New Jersey Division of Gaming Enforcement and the good news is that revenues from online casino sites and poker rooms were up from $9.5m in June to $10.07m in July. While this may not seem much it is all about perception and marketing.
The recent acquisition of the Rational Group by Amaya Gaming means that the playing field is set to change in a big way in New Jersey. There are reports that PokerStars and Full Tilt may well get the green light to start operating in New Jersey from as early as October. This according to many could well be the catalyst to rejuvenate the online poker market in New Jersey as well as in the U.S. as a whole.
Not much has changed on the leaderboard for the main players. The Borgata and Bwin.party partnership still maintains the lion’s share with $3.2m of the overall revenues. Caesars Interactive New Jersey is in second spot with $2.7m while the Tropicana and Gamesys combo held on to their third place with just under $2m.The remaining casinos in order of revenues were the The Golden Nugget with about $450k, The Trump Plaza with $676k and last Trump Taj Mahal with parent Ultimate Gaming who earned $587k. The poor results from Ultimate Gaming have led to reports that they may well be pulling out of the New Jersey online poker market.
It remains to be seen if and how the smaller online poker operators manage if at all to cope with the imminent arrival of the giant PokerStars who bring with them the largest poker customer base in the world.