ON A ROLL: US Online Poker Has Solid Summer, iGaming Revenue Hits Record Highs

The summer is over and the best thing that happened with the season can be spelt out in the success of the online poker industry. This is expected to some extent since the trend in the US gambling market has been upwards year-over-year. Among the industry players that have been quite dominant this season are PokerStars, BetMGM/partypoker US, and WSOP.com. The trio has been involved in the planning and delivery of monthly poker series with accompanying cash games. The United States is a fertile expansion region for gambling of types; states that offer legal and live poker include New Jersey, Pennsylvania, Michigan, Nevada and Delaware.

The New Jersey market continues to stand out even after close to five years in the betting industry. In the just concluded summer season, the Garden State has managed to raise more than $2 million on a monthly basis. Cumulatively, the state achieved a $2.2 million revenue mark for its performance in August. This is according to a report published by the New Jersey Division of Gaming Enforcement (NJDGE).

Out of the 3 top operators in New Jersey, WSOP.com has been successful in clinging on to the number one spot all through the summer. In spite of outdoing the competition, the site experienced a slight month-over-month decrease having raked in $849,612 in august compared to July’s $997,213. For BetMGM, it took a number three slot for the brand to re-strategize and recover its second position. The company is in the process of executing its Online Championships series.

PokerStars finished the season at number three having attained a revenue marker of $632,332. With the pathway to a Platinum Pass that the company has launched for its audience in the United States, the coming months may see the company reporting even higher revenues. Gambling in the NJ jurisdiction is not complete without the mention of Atlantic City – only three rooms (Tropicana, Harrahs and Borgata) are open in the City. At the moment, there is no confirmation of any casino planning for guaranteed multi-day live events but insiders in Borgata have mentioned that the casino will be running a live series at the start of next year. 

NJ iGaming Projects Annual Growth

Online Casinos operating in NJ have reported that their revenue for the month of August was $131.4 million which is a 16.1% increase compared to the same month last year. At the Borgata/BetMGM casino, the performance for the third consecutive month was $40 million. In the same month, the brand is reported to have gained revenue of $41.8 million from overall iGaming. This is no surprise as the gambling operator has maintained the lead for the last 17 months. 

Number two was temporarily occupied by Golden Nugget when they raised $31.3 million from the iGaming sector. Resorts followed closely on GNOG’s heels with an impressive $30.7 million. According to reports from the NJDGE, the total revenue collected from all gambling activities in the state summed up to $470.7 million in August. The taxes channeled to the authorities marked 8% of taxable casino gross revenue and 15% of Internet gross gaming revenue.

Pennsylvania leads the online poker slot

The performance of online poker in Pennsylvania has been quite impressive throughout and it is upheld in the Keystone State’s performance for online poker. In the month of August, Pennsylvania operators collectively gained $2.7 million from poker revenue as was reported by the Pennsylvania Gaming Control Board (PGCB). The three top companies driving the gambling industry in the state are WSOP.com, BetMGM and the Borgata Poker skin and PokerStars. The most impressive player out of this pack is PokerStars that managed $1.6 million in August. 

At second position was WSOP.com having gathered $635,964 from gambling revenue. Although this platform is not a component of the player pool in New Jersey and Nevada, it has been scheduled to host six online official bracelet events over October. Skins linked to the BetMGM license came in at position three in the state but the monthly growth was reported to be $413,649. That was obviously an impressive performance considering that the revenue for July was $383,555.

PA reports iGaming record

For yet another time, a new iGaming record has been reported from the Keystone State where a total of $107.1 million gross revenue was collected from operators. It was not only a new record of performance set but also a 20.81% year-over-year increase. The state summed up all the revenue collected from all gaming forms including fantasy contests and arrived at a figure of $425 million (this was a 4.2% increase compared to August 2021).

With the new record, the Rivers Pittsburgh’s record-setting bad beat jackpot had to take a step aside by more than $1.2 million. The live gambling scene in Pennsylvania keeps growing especially in the tristate area. 

Growth of Michigan Poker

The management of WSOP.com, BetMGM, and PokerStars continue to create solid and memorable poker tournaments for the bettors of Michigan. With high quality gaming, the level of player turnout is high and this means a strong revenue performance. Income collected from internet gaming in August was $130.9 million, which is an increase of 3.4% from $126.6 million collected in July. Since the revenue from Online Poker is included in this figure, the combined iGaming results are indicative of the actual performance of the sector. 

FanDuel and BetMGM continue to hold on to the top two slots in online gaming in the industry. For both companies, the growth has been gradual meaning that the market is responding well to what they are offering. BetMGM posted $49 million while FanDuel managed $19.3 million.

Final Thoughts

When casino players discover a new spot that offers them the experience they are looking for, you will easily know by the consistent profits posted. Delaware Park is the latest of such investments and the proof is in the fact that they have held the top spot every month in 2022. As the only live poker room that is currently operating in the state, the employees are enjoying as much as the players. 

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