Hit and Run: 888 Stock is Worth A Lot; PokerStars Buoys NJ Revenue; WSOP Town Hall on Twitch
The addition of PokerStars further bolsters online gaming in New Jersey. Shawn Buchanan wins fourth SCOOP title. 888 founders cash in some stock. And more.
PokerStars has a huge impact on New Jersey iGaming
The New Jersey Division of Gaming Enforcement released the revenue reports from April, and suffice it to say, PokerStars is having a huge impact on the market.
In its first full month in the market, PokerStars nearly equaled Caesars/888 and Borgata/party combined in terms of online poker revenue:
- PokerStars =$1.2 million
- Borgata = $774k
- Caesars = $664k
But Stars may also be having an impact on the casino side of things. PokerStars iGaming partner, Resorts, saw online casino revenue rise to $2.3 million in April, an increase of over $1 million from March.
The market itself set another record in April (the sixth record-setting month in a row) as the industry eclipsed the $16 million mark for the first time, and fell less than $20,000 short of $17 million.
Part Time Poker will have a full breakdown of the revenue report in the very near future.
– One of the founding families of 888 recently sold off about 2.5% of their shares in the company for an astounding £60 million. Considering the share price they received, the remainder of their shares are worth about £2.4 billion. Not too shabby at all.
– Stations Casino has reportedly purchased the Palms, giving them a veritable stranglehold on the locals casino market in Las Vegas. The sale price is reportedly just over $300 million.
– New Jersey isn’t the only regulated online poker market ticking up. France’s online poker market posted its first year-over-year online poker revenue gain since 2011 according to a recent report by ARJEL.
– Poker pro Shawn Buchanan picked up his fourth career PokerStars SCOOP title this week. Buchanan’s win came in the series’ $2,100 No Limit Omaha Hi-Lo tournament.
– The World Series of Poker is doing away with the conference call, as they’ve announced the 2016 WSOP Town Hall will be hosted on Twitch, complete with a live Q&A session.