Partypoker US Network Posts Big Online Poker Revenue Gains in New Jersey During the Final Quarter of 2020 – Pokerfuse

Online poker revenues in New Jersey for the month of December have been released by the New Jersey Division of Gaming Enforcement, and that means we have the full-year data for 2020.

Combined, the three online poker operators generated just over $3 million in revenue in December, marking a 74% increase over 2019 and an all-time high for December in New Jerseys seven-year history.

Sign up to partypoker NJ today to get a First Deposit Bonus up to $600

It continues the ten-month streak of year-over-year growth of at least 50% following the outbreak of COVID-19 which has helped fuel New Jerseys online poker market which otherwise had been declining since 2016.

All combined, the three online poker rooms namely WSOP.com operating on the 888poker network under Caesars license, PokerStars NJ under Resorts and the partypoker US Network under the Borgata license brought in nearly $40 million in 2020.

This is by far the most revenue reported in a single year, beating the previous record of 2014 when online poker rooms collected $29 million in revenue.

All operators enjoyed gains year-over-year, but the partypoker US Network which recently has been the smallest of the three was the standout in 2020.

Of all three operators offering online poker in New Jersey, the partypoker US Network comprising three skins: partypoker NJ, BorgataPoker and BetMGM saw the best growth in 2020.

Particularly, in the last quarter of 2020, the online poker rooms under the Borgata license reported the biggest annual increase in revenues, going up by 101.5%.

In comparison, WSOP.com saw growth of 53%, and PokerStars NJ grew by 46% in Q4.

Sign up to partypoker NJ today to get a First Deposit Bonus up to $600

Online poker under the Borgata license exceeded $1 million in monthly revenue for the first time since May and only the third time this year.

In fact, it did so well it not only leaped over Resorts in absolute revenue but also almost surpassed Caesars to take the pole position in the market.

It ended up accounting for 35% market share which is by far its largest in a long period and the closest it has come in leading the market. In November, it represented only 29% of the market.

The upward trajectory was primarily bolstered by the WPT Online Poker Open held last month boasting a record-breaking $1 million in guarantees. The $3500 buy-in tournament ended up attracting 395 entries to build a prize pool of $1,264,000 the largest in the history of the partypoker US network.

In fact, pretty much throughout 2020, the partypoker US network ramped up promotions, running cash game promotions and a tournament series every month. It reported $9.7 million in 2020 compared to $5.1 million in 2019 a 92% increase year-over-year.

Caesars on the other hand, with its WSOP/888 network sharing liquidity between New Jersey, Nevada and Delaware, retained the top position in December yet again, bringing in $1.17 million in tournament fees and rake which was just $100,000 more than Borgata. It held a market share of 39%.

It was the same month that saw WSOP.com host the $10,000 WSOP Main Event for US players. 705 players participated, generating $6.8 million in prize money unprecedented for any segregated online poker network in the world.

It even ended up drawing a bigger turnout than the international leg held on GGPoker open to players in most parts of the world.

Sign up to PokerStars NJ today and enjoy $30 FREE or a $600 first-deposit bonus

Meanwhile, PokerStars NJ under Resorts saw a big dip in market share in December, going down to 25.6% from 30.7% in November.

It reported $774,039 in online poker revenue in December much lower than its competitors but still representing an annual increase of 36%.

Unlike its competitors, PokerStars NJ has slowed down in promotions. It did run a cash game promotion and hosted a $100,000 New Jersey Classic tournament, but those events were significantly smaller compared to the offerings on the partypoker US Network and WSOP.com

The lack of big-sized promotions by PokerStars in New Jersey is surprising, to say the least. PokerStars is the market leader in almost every other jurisdiction it operates in. The operator has little experience in playing the underdog.

Although PokerStars NJ generated $12.6 million in 2020, over the last few months, the gap between the online poker giant and the partypoker US Network has narrowed.

In fact, in Q4, the partypoker US Network generated more revenue in rake and tournament fees than PokerStars NJ.

However, with the Federal Appellate Court rejecting the Trump administrations Wire Act reinterpretation, the Pennsylvania online poker market (which currently consists of just PokerStars PA) is expected to join the Multi State Internet Gaming Agreement (MSIGA).

Adding the liquidity of a state with a population of nearly 13 million would likely propel the PokerStars US Network to pole position in New Jersey.

The partypoker US Network and WSOP/888 have yet to launch online poker in the Keystone State, though, the scenario is expected to change in 2021 especially with the Wire Act out of the picture.

Read the original:

Partypoker US Network Posts Big Online Poker Revenue Gains in New Jersey During the Final Quarter of 2020 - Pokerfuse