Pennsylvania Poker Revenue for July Boosted by WSOP PA Entry
Poker revenues in Pennsylvania were north of $ 2.5 million for the fourth time this year, reaching nearly $ 2.6 million in July. The growth was due in large part to the enthusiasm and promotions accompanying the entry of a fourth operator in Keystone State—WSOP PENNSYLVANIA.
The PA online poker The market has stabilized for just under a year as operators move into what is hopefully a post-pandemic landscape. As a sign of this stabilization, July marked a slight rebound from the previous month, when poker revenues stood at $ 2.4 million.
Interest in PA online poker rooms increased during the pandemic, reaching an all-time high of nearly $ 5.3 million in April 2020. The next four highest months in terms of revenue were in the month previous and the two that followed.
How? ‘Or’ What WSOP PA makes inroads
WSOP Pennsylvania got started in Pennsylvania offering a $ 50,000 Freeroll for depositors that included three massive prizes: tickets to the $ 10,000 World Series of Poker Main Event (WSOP), which will be held this fall in Las Vegas. WSOP is owned by Caesars.
The operator then added eight bracelet events to its schedule in August, marking the first time players from Pennsylvania could compete for a bracelet from their home state.
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Currently, WSOP PA has a separate player pool from the US WSOP / 888 network, which brings together players from Delaware, Nevada and New Jersey and is the only interstate online poker network in the United States.
The shared player pool – and with it, the shared liquidity that is essential for increasing the price and popularity of the game – is made possible by the Multi-State Internet Gaming Agreement (MSIGA), which includes all three states.
Although Pennsylvania is not a member of MSIGA, he could decide to join or form his own interstate pact. It is expected that a decision by the Keystone State to join MSIGA would give WSOP PA an extra boost.
Big changes in four months
While PokerStars PA, which operates through the Mount Airy land-based casino license, has led the market in terms of revenue and market share since its inception in November 2019, the past four months have been transformative.
The transformation began in April when BetMGM Poker PA and Borgata Poker PA entered the market through partnerships with Hollywood Casino and River-Philadelphia Casino, respectively. The pair have combined to form a unique player pool running on partypoker software to compete with PokerStars and WSOP.
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Since then, BetMGM and Borgata have been trying to carve out and keep market share for themselves. The first indications are that they have been successful in this endeavor, to the detriment of PokerStars’ leadership position.
Corn WSOP PA, licensed by Caesars Interactive Entertainment, kicked off its entry with a series of promotions in several states and grossed nearly $ 242,000 in July, enough to capture 9.3% of the market and make it the third-largest operator in state online poker.
Considering WSOP PA began a four-day soft launch on July 12 and had its full launch on July 16, revenue numbers could have been even higher.
Second place brewing battle
PokerStars PA remained the number one online poker operator in Pennsylvania in July, with nearly $ 2 million in revenue and a 76% market share. But July was also the operator’s second worst month in terms of revenue. The lowest mark came in February 2020, the market’s fourth month in existence, when it grossed $ 1.8 million.
Meanwhile, BetMGM Poker PA raised $ 291,000 in July, good enough for 11% of the market and second behind PokerStars. However, BetMGM saw its revenue and market share decline compared to June, when it grossed $ 325,000 and held 13.5% of the market.
Borgata Poker PA brought in over $ 84,000, its highest score to date and up from $ 79,000 in June. Borgata’s revenue growth has helped it maintain the 3.3% market it held in June for at least another month.
Considering how WSOP PA came out in force in July, it is likely that the operator will compete with BetMGM for second place behind PokerStars.