US Online Gambling Roundup: 3 PA Casinos Submit iGaming License Applications; NJ Online Poker Still StrugglesPublished July 16, 2018 by Elana K
3 Pennsylvania casinos submit applications for comprehensive online gaming licenses. Meanwhile, New Jersey online gambling shows a slight decrease in June revenue while online poker maintains its steady decline.
3 PA Casinos Finally Submit Licensing Applications, With No Time to Spare
Three Pennsylvania casinos applied for comprehensive online gambling licenses on Friday: Parx, Mt. Airy, and Stadium Casino (which has not yet been built). The licenses cost $10 million, and the deadline for the state’s remaining casinos is today.
Of course, it’s not the final deadline for online gambling; it’s only the final deadline for the comprehensive licenses, which include online slots, poker, and table games. The next application window will last for 120 days and will allow Pennsylvania casinos to apply for piecemeal licenses at $4 million each.
Speculators say that some casinos might not want to pay the full $10 million, especially since online poker has been notoriously struggling in New Jersey (whereas overall online gambling is thriving). It might be worthwhile for these casinos to buy licenses for online slots and table games for $8 million in total and save the $2 million.
Once the 120-day window closes, if there are any licenses remaining, the Pennsylvania Gaming Control Board (PGCB) will open it up to outside entities.
New Jersey Online Poker Continues to Struggle
New Jersey’s online gambling industry has had a good year; nearly every month has seen record-high revenue in online gambling, despite its struggling online poker industry. While this past June differed slightly from previous months, with online gambling reporting a slight decrease, online poker has maintained its steady decline.
The New Jersey Division of Gaming Enforcement (DGE) reported June revenue at $1.757 million from online poker, down from May’s unenthusiastic $1.9 million. Unfortunately, this is after New Jersey launched its interstate liquidity pact with Nevada and Delaware, so it appears that online poker will need another solution to help it get back on its feet. What that solution is, though, the DGE has yet to decide.