Gambling in the Garden State is booming.
New Jersey, one of only three states in the United States which legally allows its residents to play online casino games, has seen enormous growth in its online gaming industry in the wake of PokerStars's recent launch in the state.
On March 21st, PokerStars re-launched its core online poker room, along with a small amount of casino games, in a partnership with local operator Resorts Casino. It only took a single week for the largest poker site on the planet to also become the largest in New Jersey. And despite the fact that PokerStars went live with just ten days remaining in the month, March online gambling win soared from previous months, setting a new monthly record for New Jersey.
In March, 2016, online gambling win in New Jersey was roughly $15.5 million, up nearly 18% from March of the previous year. However, the impact of PokerStars's launch can really be seen in the difference from February to March of 2016. February saw a very strong $14.7 million in online gambling win, but March's jump to $15.5 million is one of the largest increases seen in this market.
Online gambling was legalized for residents of New Jersey late in 2013, and PokerStars is just the latest online casino industry giant to enter the market. Other well-known US casino groups such as Caesar's, Borgata, Tropicana, and Golden Nugget have also launched online casinos and poker rooms in the Garden state. All of these companies saw increases in their March revenue as well.
Borgata remains the leader in New Jersey, with a stunning $4.2 million win in March, but given that PokerStars/Resorts Digital brought in $1.8 million in just a mere ten days out of the month, it may only be a matter of time before there is a new online casino leader in New Jersey.