Nevada’s online poker rooms generated $824,000 in revenue during February. In the ten months that Nevada has offered regulated online poker, operators have generated a total of $8.52mm in revenue.
The change in reporting was triggered by the entrance of Real Gaming into the Nevada market on February 19th. State regulations require online poker revenue to be reported separately once three operators are active.
Breaking down revenue by operator
The reports from Nevada Gaming Control only provide a total number and do not offer a breakdown by operator.
But you can make a reasonable guess regarding how the revenue splits between the three active sites in Nevada based on cash game traffic data:
WSOP.com: With the lead in the Nevada market, WSOP.com likely accounted for between 55-60% of February revenue.
Ultimate Poker: Given share of cash game market and strength in SNG traffic, Ultimate probably accounted for 40-45% of February revenue.
Real Gaming: Given the site’s late-month launch and minimal traffic, it is unlikely that Real Gaming was responsible for any material amount of Nevada’s online poker revenue for February.
Measuring up against other regulated markets in US
How does Nevada’s performance stack up against online poker revenue in Delaware and New Jersey?
The answer: Relatively well.
The chart below shows the amount of online poker revenue generated per capita in each state in both February 2014 and in the first three (full) months since New Jersey launched:
Obviously the states do not offer a perfect apple-to-apples comparison. New Jersey almost certainly receives more cross-border traffic than Delaware and Nevada. And Nevada only offers poker, while Delaware and New Jersey offer both poker and casino games.
Where Nevada online poker revenue goes from here
Traffic is already dropping from February levels. March numbers will likely be lower in absolute terms, and certainly in terms of per-day average.
Online poker activity is typically impacted negatively as weather improves. This phenomenon may not be quite as pronounced in Nevada as New Jersey, but it should have an impact nonetheless.