888 Holdings to Exit New Jersey’s Online Gambling Market
888 Holdings has announced the shutdown of its 888poker platform and 888casino NJ app in New Jersey, effective June 3, 2024.
The move is part of a broader strategic realignment aimed at refocusing the company’s efforts on other global markets and reducing its presence in North America.
Details of the Exit
The closure is a follow-up to 888 Holdings’ February decision to sell its U.S. gaming assets to Hard Rock Digital, a business owned by the Seminole Tribe of Florida.
The exit from New Jersey’s online gambling scene is seen as a strategic shift to optimize 888’s portfolio and concentrate on more lucrative opportunities.
The closure is a follow-up to 888 Holdings’ February decision to sell its U.S. gaming assets to Hard Rock Digital, a business owned by the Seminole Tribe of Florida.
The new owner of 888’s U.S. assets, has indicated that it does not intend to introduce online poker to its platform in New Jersey.
Despite the withdrawal, the World Series of Poker (WSOP) will continue to operate in New Jersey. An initiative involving WSOP is the planned tri-state cooperative with New Jersey, Michigan, and Nevada.
Market Performance
888poker’s contribution to New Jersey’s online poker revenue has been minimal, with only 0.006% of the state’s total poker revenue since January 2024, amounting to $47,954.
This is in stark contrast to competitors like PartyPoker, which reported revenues of $532,872 in the same period.
Players currently engaged with 888poker and 888casino NJ are advised to withdraw their funds by the June 3 deadline. Any remaining balances after this date will be refunded via check in the following months.
New Jersey remains one of six states in the U.S. where online poker is legal. Despite the departure of 888poker, the presence of WSOP will continue to provide some online poker options to New Jersey players, maintaining a competitive market despite the reduction in operators.
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