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Sunday, June 24, 2018

Caesars is New Emperor of NJ Online Gambling

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Caesars is New Emperor of NJ Online Gambling
Caesars is New Emperor of NJ Online Gambling

Ever since online gambling has been made legal in New Jersey, there is only one operator who has been the undisputed ruler of the segment when it comes to the money side of it. This, of course, is PokerStars, the casino giant that exclusively caters to the needs of the most popular card game's aficionados.

However, that has now changed and only time will tell if this “new revenue order” will be permanent or we're entering the stage of constant overtaking. Caesars Interactive Entertainment has surpassed both PokerStars and Borgata and is now the new leader in the New Jersey poker market, revenue-wise.

PokerStars has, in fact, had a terrific streak of being first, which lasted for over two years – they took first position in April 2016 and haven't looked back, until now. In May 2018, Caesars dethroned them and now rules the NJ empire. The main reason behind this change is the state's joining of the Multi State Internet Gaming Association (MSIGA), which is now, therefore, sharing poker liquidity with other states – something Nevada and Delaware have been a part of for the past three years. It is because of this, and the fact that Caesars is the only operator offering online poker in those two states, that this operator benefits wildly from the situation which is reflected in their increased revenue, which has soared by more than 40%!

In total, New Jersey online operators amassed $24.3 million in May revenue, which is 1.3 million less than in the month of March, when the revenue record was set. This is the fifteenth month in a row that combined online casino and poker revenues to exceed $20 million in this state.

Source:

“New Jersey revenues up 15% as Caesars enjoys poker spike“, egr.global, June 14, 2018.

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