Hit and Run: 888 Stock is Worth A Lot; PokerStars Buoys NJ Revenue; WSOP Town Hall on Twitch

Steve Ruddock : May 12th, 2016
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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.

Quick Hitters

- 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.

Get your daily dose of poker news with the PTP Hit and Run.

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