June was one of the best months for revenue for New Jersey online poker rooms in the last two years, data from the state regulator show.
The vertical had $2.5 million in total revenue in June, up 8.4% month-over-month ($2.4 million) and up 16.1% year-over-year, according to the New Jersey Division of Gaming Enforcement (NJDGE).
It was the third-best mark for revenue since July 2021, when NJ’s online poker rooms combined for $3.1 million. Since then, the market had only been higher than June’s total on two occasions — in January 2023 ($2.7 million) and January 2022 ($2.6 million).
Considering both of those high points were in January, when online poker traditionally has higher revenue (in part because there are more people indoors in the winter months), the revenue figures for June are impressive.
WSOP Has Best Month Since October
After trailing both of its rivals for the past five months, WSOP NJ went from worst to first in June in terms of revenue. The operator grossed $919k in June, up 41.2% from May ($651k). But revenue was down 4.3% from the year-ago month ($960k).
WSOP, which operates under the Caesars license, had its best month for revenue since October 2022, when it grossed $1 million. Had revenue been just 9% higher in June, it would have been the operator’s best month since July 2021, when WSOP made $1.7 million from online poker. Still, the operator held 36.1% of the market in June, its highest share since October 2022, when it held 45.2%.
Just two months removed from being in last place and falling fast, WSOP relied on online bracelet events during the summer to pull ahead of its two rivals — PokerStars NJ and the BetMGM Poker Network.
PokerStars Still Above $800k
PokerStars NJ, on the Resorts license, was second in terms of revenue in June with $846k, down 9.8% from May ($938k) but up a whopping 42.4% from a year ago ($594k). For the month, it held a 33.2% share of the market.
For the sixth consecutive month, PokerStars had revenue north of $800k. Before January, the last time PokerStars had more than $800k in monthly revenue was January 2021, when it grossed $843k.
It was expected that PokerStars would have high revenue in 2023 due to it combinining its player pool in New Jersey with its counterpart in Michigan on January 1. That alone should be enough to put PokerStars above WSOP and the BetMGM Poker Network — at least for most months.
BetMGM Network Up 22% Year-Over-Year
The BetMGM Network — including BetMGM Poker NJ, Borgata Poker NJ, and partypoker NJ — had $783k of revenue in June, according to the NJDGE. That marked a nearly 3% increase in revenue month-over-month ($761k), but revenue was up an even more impressive 22.4% year-over-year ($639k).
The group, which operates under the Borgata license, rarely leads in terms of monthly revenue — but it has finished in first place seven times since the market launched in January 2019.
According to the NJDGE, BetMGM, and its partners finished atop the field in September and October 2021, then again in February, March, and April 2022. They were tops again in November and December 2022.