For the first in a very long time, the New Jersey online gambling sector recorded a monthly decrease in revenue during the month of April. While it has become a norm with online poker, it is still quite unusual for online casinos to decrease from month to month – a substantial decrease is even harder to come by and this makes the dip in April quite a big deal. It is, however, worth noting that the year-over-year revenue numbers for online gaming in the Garden State were up substantially with the 59 percent increase reported being consistent with the upward trend of internet gaming revenue.
As mentioned above, poker was, unfortunately, back to its year-over-year fall after a slight reprieve in the previous month. In March, online poker was able to claim a win with revenue growing by over 5 percent from February. This was quite significant since even the smallest wins are welcome since online poker is still struggling to stay both relevant and vital in the ever-growing online gaming market in New Jersey.
April turned out not to be so great with the revenue figure slumping again both on the monthly and the annual level – the monthly drop was even more drastic than the annual drop. Here is an overview of the online poker revenues that have raised all this concern:
- April 2019 online poker win: $1,667,977
- March 2019 online poker win: $1,903,790
- April 2018 online poker win: $1,761,404
These translate to a 12.4 percent month-on-month decrease and a 5.3 percent year-on-year decrease.
Acceptable Overall Online Gaming Performance
Even though the online poker vertical continued to wet-blanket the revenue number in the Garden State, the regulated online gambling market managed to scores its second-best month on record in April 2019.
According to the official New Jersey Division of Gaming Enforcement (DGE) data, the state’s licensed online gambling operators generated close to $36.6 million in revenue last month. This represents an improvement of a whopping 59 percent over the same period in the last year. On the flip side, it also represents a decline of about $2.5 million from March.
The growth rate continues to soar for the state’s internet casinos. As such, it is not very surprising that New Jersey is becoming increasingly pleased with its gaming industry – in fact, the state is even beginning to become more dependent on the online gaming vertical for the overall growth rate of gaming. This makes the case for why New Jersey is prepared to go to great lengths to fight for the industry.
How the Online Gambling Licensees Performed
|Online Casino Licensee||2019 April Revenue||2018 April Revenue||% Change|