Commerce and industry
Online poker revenues decline in Pennsylvania, increase in New Jersey while online gaming revenues soar in both states
Online poker revenues in Pennsylvania declined slightly in the past month, but increased about the same in neighboring New Jersey. In both states, online poker is dominated by online gambling.
According to the Pennsylvania Gaming Control Board report in September, the state’s four online poker rooms raised $ 2.92 million, up from $ 3.2 million in August. Total gaming revenue generated in September was $ 415.6 million.
PokerStars was the only one of the four online rooms to see its revenue increase, with $ 42,000 more than in August.
Pennsylvania Online Poker Room Revenue – September 2021
- PokerStars $ 1,956,788 (+ $ 42,000)
- WSOP $ 603,466 (- $ 216k)
- BetMGM $ 270,816 (- $ 75,000)
- Borgata $ 93,775 (- $ 24,000)
WSOP.com saw the biggest decline despite hosting a 12-event online tour series.
August was the best month of the year for online poker earnings in Pennsylvania, but it is still far from the best month ever when Commonwealth players bet over $ 5.2 million in April 2020 .
Pennsylvania Online Poker Revenue in 2021, by Month
Online poker monthly earnings in Pennsylvania have declined steadily for the first six months of the year, but have shown more signs of life in the past two months.
- January, $ 2.7 million
- February, $ 2.5 million
- March, $ 2.4 million
- April, $ 2.3 million
- May, $ 2.2 million
- June, $ 2.4 million
- July, $ 2.6 million
- August, $ 3.2 million
- September, $ 2.9 million
PokerStars had a monopoly on the Pennsylvania online poker market since November 2019, but that ended in April when Borgata entered the market. MGMBet followed in March, then WSOP.com in July.
Internet gambling eclipses online poker
Pennsylvania has 10 casinos licensed to offer online casino-style gaming to its residents. These sites generated $ 97.8 million in internet gaming revenue in September, up $ 11 million from the previous month. These figures do not include income generated by sports betting.
Online slots accounted for $ 68.5 million of September’s catch, which is a 71.5% increase from September 2020, when revenue was $ 57 million. As of September 2019, that figure was $ 4.1 million at three casinos.
Tax revenue generated from internet gaming in September 2021 was $ 41.6 million.
Hollywood Casino at Penn National, the licensed BetMGM casino, was the big winner among casinos that offer online gambling. It grossed $ 30.4 million, or $ 8.2 million more than the previous month, but $ 2 million less than the July transport.
With actor Jamie Foxx as its spokesperson, BetMGM does its best to saturate the market with ads promoting its sports betting and online casino on every football and hockey broadcast, but the site never mentions that it offers online poker. He is also âpartnerâ with many professional sports leagues and teams including the NHL, MLB, NASCAR and the PGA Tour, but again avoids mentioning online poker.
BetMGM is a partnership between MGM Resorts International and Entain Holdings. Last month, the UK company received a $ 22.4 billion takeover offer from DraftKings. The offer was extended for a month earlier this week. Entain’s board rejected an offer to take over MGM Resorts for about half that amount earlier this year.
Pennsylvania casinos processed $ 578 million in sports betting on 15 sports bets in September, with taxable sports betting income for September 2021 reaching $ 28 million. A further $ 28 million was processed through online sports betting, with revenue of $ 6.2 million.
The state’s total for live table games at its 15 casinos was $ 84 million, down $ 2 million from the August tally. The $ 415.6 million in total gaming revenue generated in September represents a 46% increase over revenue generated in September 2020, and $ 7 million more than in August 2021.
New Jersey sees a recovery
Just across the state border, online poker revenue in Garden State edged up to $ 2.5 million in September, up about $ 100,000 from the month August, according to the New Jersey Division of Gaming Enforcement monthly report.
New Jersey Online Poker Room Revenue – September 2021
- BetMGM / Borgata $ 1,021,206 (+ $ 221,093)
- WSOP / 888.com $ 804,887 (- $ 159,931)
- PokerStars 665,808 (-12,675)
The Borgata, which licenses partypoker and operates the Borgata and BetMGM skins, generated over $ 200,000 in additional revenue compared to August. Its $ 1 million haul was the largest released by any of the state’s three operators in September.
Including online poker, online gaming revenue for September was $ 122.6 million (from $ 110.8 million in August), a 40% increase from $ 87.6 million. dollars from a year ago.
New Jersey Online Poker Revenue in 2021, by Month
New Jersey online poker totals for the year:
- January, $ 2.7 million
- February, $ 2.5 million
- March, $ 2.7 million
- April, $ 2.4 million
- May, $ 2.4 million
- June, $ 2.2 million
- July, $ 3 million
- August, $ 2.4 million
- September, $ 2.5 million
WSOP.com has had the best month of 2021 so far when it raised $ 1.7 million in July, largely thanks to a series of 33-event bracelets held across the state. WSOP.com/888.com shares its player pools with Nevada and Delaware.