In September, BetMGM topped the online poker market in New Jersey (NJ) for the first time since launching in the state. The operator runs the partypoker US Network which is comprised of a trio of skins operating in NJ – partypoker, Borgata Poker, and BetMGM Poker.
BetMGM Stays As Market Leader in October
Latest figures from the New Jersey Division of Gaming Enforcement (NJDGE) show that BetMGM has remained at the top spot in October, with the WSOP/888poker network failing to reclaim its status as market leader. BetMGM brought in $933,000 in revenue in October, continuing its lead for the second consecutive month. WSOP lags behind with $875,000.
While the Caesars-owned brand did not manage to return to its dominant position, its October results represent a huge improvement from last month’s figures. WSOP was the only operator recording an increase, with revenue up by 8.7%, from $805,000 in September,
Current leader BetMGM saw its revenue drop 8.6% from $1 million last month.
When year-to-year figures are taken into account, BetMGM enjoyed the biggest growth, with revenue up 29% from $724,000 in the same period in 2020. That’s in contrast to WSOP which suffered an 8.1% decline from $952,000.
PokerStars’ October revenue was down 6.3% to $624,000, representing a 26% decline from October 2020 when it generated $842,000.
BetMGM now holds 38% of the NJ market, a drop from September’s 42%, while the WSOP’s market share jumped to 36% from 32% last month. PokerStars was a distant third, holding a 25.5% share.
NJ Online Poker Revenue Slightly Down in October
Overall, New Jersey’s online poker revenue slightly dropped to $2.43 million in October from $2.49 million in September, its lowest point in the last four months. Total revenue generated by all three regulated online poker sites in the state also slumped by 3.4% year-to-year. In October 2020, NJ’s online poker revenue was at $2.5 million.
So far this year, the NJ online poker market has generated between $2.4 million and $2.7 million in monthly revenue. This represents a significant drop compared to record revenues achieved in the middle of the COVID-19 pandemic in 2020, in the months of March, April, and July in particular. However, the 2021 figures are still above revenues generated in 2019.
Borgata Brands Enjoying Significant Growth in NJ
Borgata brands have sat at the bottom of the rankings in terms of market share in the Garden State since 2018, with Caesars/WSOP and Resorts/PokerStars NJ consistently competing for the top spot.
In late 2020, Borgata climbed from the bottom to overtake PokerStars in second place. It held on to that position for several months before finally grabbing the market lead from Caesars in September, a huge achievement for the company.
The fact that it managed to maintain its lead in October makes that achievement more special, considering that its major rival ran a massive online series for much of the month which would have allowed it to reclaim the no. 1 spot.
WSOP.com ran an online bracelet series in October as the live festival was also taking place at the Rio. While it contributed to an increase in Caesars’ online poker revenue for the month, it just wasn’t enough to put the WSOP back to its original position in the NJ market.
Back in July, the WSOP also played host to a domestic online bracelet series which delivered positive results for the operator. The October series didn’t quite come close to the level of impact that the July festival had.
BetMGM will now look at maintaining its current status by boosting its offerings. The operator is currently running The End Boss Poker Series across its three markets in NJ, Michigan, and Pennsylvania.