PlayStar Casino to Launch in New Jersey
If you’re following the regulated online gambling market in the United States, then you know that New Jersey is the industry leader. There are 25 online casinos in the state along with multiple online poker rooms. That number is guaranteed to go up by at least one later this year.
According to various reports, Gaming Innovation Group (GIG) will be launching PlayStar Casino later this year in New Jersey. The online casino is partnering with Ocean Resort and will be the first of several legal online casinos to open over the next year.
PlayStar Casino to Launch in Q4 2021
On Tuesday, news broke that GIG will be launching its first online casino in the United States. The company is partnering with Ocean Casino in Atlantic City and plans to open sometime in late 2021. In a press release from Ocean Resort, they stated, “Gaming Innovation Group has earned a reputation for being a very formidable and trusted technology partner in Europe. So when we were assessing platforms for our market entry into New Jersey, we were very confident in selecting GiG as our platform partner. We are really excited to have them support our launch into New Jersey and also our future expansion into regulated states across the USA.”
PlayStar is not to be mixed up with PokerStars or other online casinos in the state. It is a new platform in the state, offering online casino gaming that includes online slots, blackjack, and other table games. The platform will not include online poker.
One concern from analysts is how the casino can compete in a market that is considered oversaturated already. According to PlayStar, “PlayStar Casino is setting out to offer an online casino experience with a difference that will stand out from the current offerings in the market. Our player experience focus, centered on a unique product offering, engaging front end concept and personalization will result in an immersive and entertaining experience for the player.”
GIG Will Not Be The Only Operator Launching This Year
As already mentioned, there are 25 online casinos in NJ. That number could balloon to 28 before PlayStar even launches. It is expected that two or even three new casinos will launch sometime by the Summer of 2021 under the Bally’s brand.
Some of you may know that each casino license allows for up to five skins per brand. It is expected that Twin River, the new owner of the Bally’s brand, will open two to three online casinos. Looking at the number of casinos in New Jersey compared to other legalized online gambling states, New Jersey is outpacing other states by almost 3 to 1.
Will PlayStar Make a Dent in the Oversaturated Market?
Not only is PlayStar opening in a market that’s oversaturated, but it is also oversaturating its own partner. PlayStar will be the third online casino to open under the Ocean Resorts umbrella. The casino already operates Ocean Casino and Parx Casino online. The two casinos together are barely bringing in $1 million in monthly revenue. Other more established sites like Golden Nugget are bringing in as much as $20 million monthly.
For PlayStars to keep from cannibalizing Ocean’s other properties and to compete with other properties, it will have to differentiate itself on a level unseen in New Jersey. If it can find a way to do this, it could compete. Otherwise, the casino stands to get lost in the shuffle. At this point, we have to wonder if it would not be better for the industry to retract a little and focus on growing the already existing brands. Doing anything else will erode many of the smaller brands.