New Jersey Online Gambling Revenue Dips

The New Jersey Division of Gaming Enforcement recently released data on online casino revenues for the past month. The new report shows that revenue declined over 19% between March and April.

The DGE attributes the decline to seasonal patterns. Analysts stated that online gambling revenues increased in January due to an unusually cold winter. They predicted that revenues would fall in the spring. Analysts observed similar seasonal patterns over the few years before the UIGEA was passed.

While the overall decline was a little discouraging, online gaming providers are optimistic about the overall trend. Gaming providers reported that the number of player accounts increased by over 10% in the past month. This may be a leading indicator that revenues will probably increase in the coming month.

Some gaming providers are faring better than others. Ultimate Poker lost nearly 40% of its market share in April. The company only generated half the revenue that it made in March. While the operator has been successful in Nevada, it has struggled to gain the same traction in the Garden State. Ultimate Poker launched a couple new products including Two Street Hold'Em in February and has tried various bonuses and promotions.

The Borgata reported that online gaming revenues fell by 15.3% in April. This figure was disappointing for the casino executives, but the casino wasn't affected by the seasonal trend as much as its competitors. The Borgata still retains nearly a 30% market share in the state.