NJ’s online poker revenues climb

NJDGE reports boom

A January report released by New Jersey Division of Gaming Enforcement (NJDGE) revealed that all four of the state's licensed operators experienced increased revenue growth from December to January after modest growth in December reversed a three month trend of decline.

The shortfalls to original projections by Governor Christie have been answered resoundingly by the turning of the corner for 2015. The fact is, the rewards for surviving the growing pains may be close at hand.

The new boom was earmarked by an 8% increase the state of New Jersey experienced in regulated online gaming revenue for January, for a total intake of $US1 1,567,337 after December's healthy take of US$ 10,736,118. Online, the story was even better, as internet poker revenues jumped a full 12% to approximately US$ 2.3 million in revenues.

The boom is attributed to activity by online operators such as Partypoker NJ and BorgataPoker, who in January jointly hosted the Garden State Super Series (GSSS) II. On another front, WSOP NJ and 888poker NJ pooled their resources to share liquidity in some tournaments and cash games as well.

Co-operation among competitors key to market survival

Clearly, in these touch-and-go opening months of regulation, cooperation among competing casinos is the key to increased profits and survival of the newest revenue source available. The online option is moving forward in baby steps, and now is not the time for competition among New Jersey casinos, but rather cooperation, so that a market arises on which the hopeful gaming industry can compete evenly in the relatively near future.