After five years since BetMGM Poker, Borgata Poker, and partypoker entered New Jersey, the trio has taken the leading position.
This comes as the trio under Borgata licensing generated more revenue than their competitors, PokerStars under Resorts and WSOP/888 under Caesars in September.
The New Jersey Division of Gaming Enforcement reported that BetMGM generated over $1,000,000 in September. This amount was also the first seven-figure revenue by the poker operator this year.
It is impressive that BetMGM and partners managed to top the chart. Since 2016, the trio has consistently taken third place after Caesars and Resorts.
It is even more impressive because the partypoker US network witnessed a 28 percent revenue increase in August. Moreover, the brand saw a 31 percent increase compared to September last year, an amount many poker operators are yet to match.
The increase in revenue generation could result from the World Poker Tour Borgata Poker Open Main Event. This event rewarded almost $1 million in guarantees.
Although it took only three days, the event seems to have attracted enough players on the network, leading to increased revenue.
Caesars Seems to Dominate in Cash Game Traffic
Yet, a deeper look at data shows BetMGM and partners are far from dominating the cash game traffic in New Jersey.
While Caesars continues to dominate the market, it is not clear how much the brand gets from New Jersey, considering it has shared liquidity with other two states, Nevada and Delaware.
On a monthly revenue basis, WSOP/888POKER leads over Borgata and Resorts with cash games. Borgata’s success could be a result of the tournaments it hosts.
If BetMGM NJ and its partners held $1 million tournaments, they would attract more MTT players than cash game players. This is a strategy that seems to be working for the brand.
A year ago, Borgata was behind Caesars and Resorts. While it has maintained the boost it got during the early days of the Coronavirus, the competitors have seen their revenue drop.
In July, Caesars NJ sites, including WSOP, and 888 made over 1.6 million. This could be because of the WSOP Online Bracelet Series. With the event coming to an end, it was inevitable for the brand’s revenue to drop.
But, it is a shock that WSOP and 888 only generated $804,887 in September, almost one million dollars down from July’s revenue. This pushed Caesars down to second place, after holding to the first position for 16 consecutive months.
But, considering the shared liquidity, Caesars will continue generating more revenue.
It Is Worse for PokerStars
While Caesars has some luck due to shared liquidity, PokerStars does not have a silver lining. As a poker operator giant, it is unexplainable why PokerStars is not doing so well in New Jersey.
In September, the brand generated $665,808, an amount similar to pre-pandemic figures. This amount is also 13 percent less than September’s last year. In fact, for the past 12 months, PokerStars seems to be lagging in making significant revenue.
Yet, PokerStars continues to dominate in its two markets, Michigan and Pennsylvania, even with other big brands present in the market. So, for it to lag in New Jersey is puzzling.
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