Caesars' Online Poker Revenue Spikes 40% After Poker Liquidity Sharing
New Jersey online gambling revenue hit its second-best month ever in May. The combined income from state operators came to $24.3 million, marking a 15.3 percent increase year-over-year. While all operators saw a boost, Caesars stood out with a 40 percent spike in online poker revenue.
The first month after New Jersey joined Nevada and Delaware in online poker liquidity sharing proved fruitful for Caesars' WSOP.com, the first and currently only site operating in all three states. Caesars earned $4.1 million in New Jersey last month, $770,000 of which was from poker. Caesar's online platform made $600,000 more in May than the month prior.
Although Caesars is climbing up the ladder, the operator still has a long way to catch up with New Jersey's most significant online winner, Golden Nugget, which made nearly double its nearest competitor. Golden Nugget collected $8.6 million from online gaming in May, reaching just $50,000 below its record high revenues in March.
Despite impressive growth in Caesar's online poker vertical, ipoker was still down 9 percent year-over-year in May. However, New Jersey online poker appears to be on the rebound as May revenues were a significant improvement over April when revenues were down 17.5 percent compared to April of 2017.
The biggest loser in New Jersey online poker last month was Borgata, though their casino vertical more than made up for the lost revenue. Borgata Poker fell 16.76 percent month-over-month and 27.8 percent year-over-year. Resorts Poker suffered a similar decline of 25.6 percent year-over-year but its casino game vertical did not make up for the loss.