Caesars’ online offerings, WSOP NJ and 888poker continue to dominate New Jersey’s online poker revenue. However, other players in the New Jersey market are doing quite well too. The Borgata-associated brands which include Borgata online casino, BetMGM, and partypoker also stand out as major players in the Garden State market.
While the three Borgata brands ranked second, according to data released by the NJ gaming commission, in August, they managed a 7% year-over-year profit increase. That is the first time any online gaming operator in the state has posted an annual gain since March. It also bested last summer’s lockdown-fueled surge in online poker.
However, overall, this August saw a significant drop in online poker market revenue; last August saw $3 million in total online poker revenue, while this August saw under $2.5 million.
While the Caesars brands posted more revenue than the previous August, it was far less than July; August 2021 saw $960,000 in revenue, down from $1.7 million in July 2021. July was a very good month, due to the WSOP online bracelet tournaments. But, compared to last August, Caesars’ WSOP and 888poker were down by 27%.
With that in mind, despite the numbers, Borgata shined. For months, Borgata’s online casino and poker offerings have continued a small but steady upward trend. Not only that, Borgata has maintained a clear lead over PokerStars and Resorts International for second place.
Borgata Performing Exceptionally Well
It’s expected that year-over-year comparisons for Q2 and Q3 2020 and 2021 would be down. This is due to the unprecedented 2020 global lockdowns, which drove online poker traffic. Thus far in New Jersey, July has been the only month in 2021 that got close to $3 million. And, much of that was due to the highly-anticipated WSOP bracelet tournaments.
Considering all that, the year-over-year increase for Borgata brands is extremely impressive. The end of last August saw the end of the lockdown-driven spikes in poker traffic, but it still was one of the best months in New Jersey online poker history.
In fact, Borgata is the only online poker operator to post a year-over-year increase since March 2021. Borgata also posted a significant year-over-year increase of 16% in March 2020.
Pre and Post-Covid Market Expectations
The August 2021 revenue of $2.44 million for the NJ online poker market would have been great in the pre-COVID era. A few years ago, the New Jersey market consistently posted less than $2 million. But, expectations have increased since the lockdown numbers, so this past August was seen as a drop, except for Borgata.
The drop in Caesars’ revenue was easily explained since its brands were still in the lead. But, the poor performance of PokerStars NJ and Resorts is worrying. For nine months in a row, these two have posted the lowest revenue of the three online poker licensees. Moreover, they control just a little more than 27% of the state’s online poker market.
By comparison, Borgata holds nearly 33% of the market, Caesars holds around 40%. That trend held steady throughout 2021.
Caesars Rules the New Jersey Online Poker Market
Clearly, Caesars is still ruling an online poker empire in the Garden State. The casino giant has consistently held that position since the beginning of 2019. However, for two months during the lockdowns, Resorts and PokerStars managed to take the lead.
Borgata also got close to taking the lead a few times over the last year, coming very close in December 2020 and March 2021.
But, Caesars seems to easily maintain the top spot in the New Jersey market, leaving Borgata and Resorts to fight over second and third place. For the past year or two, Borgata has consistently held an edge over Resorts.
But, keep in mind, Borgata was the only operator with year-over-year increases so far this year. Also, its sure and steady second-place ranking made Borgata one to watch in the New Jersey online poker market.
Pennsylvania Online Poker Market Looking Up
While overall, the market was down slightly in New Jersey, Pennsylvania online poker operators saw one of the best months ever. The Pennsylvania online poker market saw more than $3 million in revenue for August, up from July’s $2.5 million.
The impressive increase in revenue can be attributed to the launch of WSOP.com in the Keystone State, and its first bracelet series of tournaments.
PokerStars continues to be number 1 in Pennsylvania, with $1.9 million in revenue for August. But, WSOP.com had extremely impressive month-over-month growth, with $819,249 in August, up more than 3-fold over July’s $241,691.
Both BetMGM and Borgata Poker experienced modest growth with combined revenue of $463,423. Both sites are skins of the partypoker US Network.