- PokerStars year-over-year results continue to show strength as the company remains the sole player in the Keystone State
- February was the weakest month in terms of revenue, but PokerStars posted a 37.7% YOY growth
- PokerStars may soon have to fend off against more brands joining the Keystone State
PokerStars continues to beat year-over-year results as the company remains the sole operator in the Keystone State.
Pennsylvania Remains a PokerStars Bastion, Interest Surges
PokerStars continues to dominate Pennsylvania, posting increasing results amid sustained interest for the game. On a year-over-year basis, poker is up by 25%, and this is good news for everyone who hopes the game would take a long-term view on the Keystone State.
While February’s results in terms of revenue were one of the weakest on record, the company still enjoyed a 37.7% growth year-over-year for that month. Total revenue hit $2.5 million, giving the platform, which is still the only one in the market, a solid foothold in Pennsylvania. This is still a bit lower than January, but nevertheless is no one to contest these results. Not yet, at least.
PokerStars has already sported a great first year with the total revenue generated in the first full year of operation, November 2019 through October 2020, hitting $35 million. The biggest surge in activity came in April 2020, with over $5 million in generated revenue and amid the first lockdown measures, which suspended many other entertainment options.
More Stakeholders Looking for Entry
PokerStars still enjoy a fairly free reign over a fairly profitable market. Unlike other jurisdictions such as New Jersey and Nevada, PokerStars doesn’t have to deal with other stakeholders, even though 888, partypoker, GGPoker, and BetMGM are all circling the state, and some even have licenses already.
The question is how PokerStars would handle the potential competition from other heavyweights in the sector. This year seems like a good timing opportunity for other stakeholders to push on. BetMGM may not be in a hurry, as the company seems to focus on sports and iGaming and to prioritize it over the poker vertical.
In the absence of competitors, PokerStars is likely to continue seeing its YOY results improve. This is good news for poker in the state.