A week ago, the New Jersey Division of Gaming Enforcement (DGE) released a revenue report that detailed the earnings of the state’s online gambling operators. From the looks of it, things have not been improving, at least not in the way that the state as well as the online gambling operators expected, something that has led up to the conclusion that Pennsylvania is partly to blame. But how?
Well, according to the revenue report, online poker revenue saw a 15 percent year-on-year to decline thus clocking in at a meager $1.6 million last month. The state currently has shared liquidity agreements led by the All American Poker Network (APPN) which currently consists of 888poker and WSOP.com. The other two states that are part of this agreement are Delaware and Nevada. However, it is strongly believed that until Pennsylvania joins the liquidity sharing pool, New Jersey’s online poker will continue to lag behind.
About 13 million people live in Pennsylvania, and this is a huge market of potential poker players. Unfortunately, the Keystone State has been taking its sweet time when it comes to the issue of interactive gaming licenses – one of the most notable aspects has been the huge price tags associated with the online gaming licenses as well as the exorbitant tax rates the operators will be subject to once they begin operating.
That said, it is rather obvious that all the process involved make the chances of online gambling coming to Pennsylvania rather slim. As such, New Jersey will not be able to effectively expand its online poker player pool which puts it between a rock and hard place, that is, if Pennsylvania chooses to participate in the pool in the first place.
Pennsylvania Casino Revenue Sees A Decline in September
At about the same time that the New Jersey revenue report was released, the Pennsylvania Gaming Control Board (on Tuesday, October 16) also released revenue figures for the month of September. According to the figures, the state’s 12 licensed casino operators generated a total of $268.5 million in September which represents a decline of 1 percent from the revenue figures recorded over the same period in 2017.
While the slot machines held up quite well by posting a modest 0.4 percent year-over-year increase to $196.2 million, the casinos were not so lucky when it came to the table games which plunged by about 4.4 percent to $72.3 million. The drop was mainly attributed to the 18.8 percent drop in Sands Casino Bethlehem’s revenue last month.
The gaming control board also released figures for the revenue from the state’s daily fantasy sports operator. The revenue totaled to $2,133,714 which is more than double the $943,620 that the budding industry brought in in August, a boost that is believed to have been caused by the National Football League (NFL) season that recently kicked off.