Panka Stops Timex, New Jersey Books $8.4m in iGaming revenue
The first major poker series of 2014 is in the books and the figures for New Jersey iGaming for 2013 are in.
Poland's Dominik Panka took down the 2014 PCA Main Event title and $1.42 million in prize money but not before a strong challenge from Mike "Timex" McDonald while the future looks bright for the Garden State.
Panka, Schindler Among Big Winners at PokerStars Caribbean Adventure
The 2014 PCA wrapped up on Monday with the finals of both the $25,000 High Roller Event and the PCA Main Event.
Jake Schindler had to overcome stiff challenges from Greg Merson and Vanessa Selbst to win the high roller while Dominik Panka spoiled Mike "Timex" McDonald's runt at his second EPT title.
The final day of the $25,000 PCA High Roller event started with 14 players and a stacked field that included Selbst, Rob Mizrachi, Dan Smith, Daniel Negreanu and Merson.
Selbst was the defending champion of the event and by the time the final table was reached, she was the chip leader. Merson was looking to take down his first seven-figure score since his Main Event victory.
With three players remaining Selbst was still the chip leader and looking to repeat as champion. Unfortunately, a double-up from Merson would begin a slide that saw her finish in third for the second time in a week. Selbst also finished third in the $10kk PCA Super High Roller.
Schindler started to catch fire three-handed and was the player that ultimately eliminated Selbst. At the start of heads-up play, Schindler held a slight lead on Merson and the two cut a chip count deal that saw the pair take home over $900,000 each and play for the remaining $200,000.
Loose play from Merson resulted in him being short stacked and agreeing to go all-in blind before the final hand. His 9-4 was no match for the K-10 of Schindler and the champion was crowned. Schindler took home $1.1 million for his amazing run in the event.
Over at the final table of the PCA Main Event, all eyes were on McDonald and whether he could take down the title. McDonald was looking to become the first player in EPT history to win two Main Event titles. He would start the final table of the event second in chips and that would be his ultimate finishing position.
Three-handed play in this event was between Isaac Baron, McDonald and Dominik Panka. The three cut a deal based on chips and each took home over $1 million each. McDonald would ultimately make it heads-up with Panka and took nearly a 2:1 chip lead more than once, but each time Panka battled back.
McDonald then began to make big calls with bad holdings and that ultimately led to his losing the title. He called a 13 million chips shove with just K-J against nines and then dropped 6 million more chips with 9-7 offsuit calling after a gutshot draw.
Finally, he was all-in with 7-4 of clubs against A-2 for Panka. The flop produced a deuce and that pair held to give Panka the title and $1.42 million in prize money.
New Jersey Posts IGaming Revenues of $8.36 Million in 2013
The New Jersey Division of Gaming Enforcement released the numbers that everyone has been waiting on in the iGaming community. Since officially launching iGaming in November 2013, New Jersey took in total revenues of $8.36 million with $7.38 million coming in December alone.
The Borgata (PartyPoker) led the way with $3.75 million in earnings for 2013, representing 44.8 per cent of the state's revenue. Caesars Entertainment (WSOP.com) took in $2.38 million or 28.4 percent. Trump Taj Mahal was third with $883,037 or 10.6 percent of total revenue.
Taking a further look at the data, online poker contributed to approximately $3.2 million of the total revenue during that period. Borgata and Caesars took in $1.9 million and $1.2 million respectively and currently take in 97% of all online poker traffic in the state.
Keep in mind that these numbers could have been greater had Golden Nugget been approved for iGaming at the same time as the other sites. Golden Nugget was not approved for full launch until December 13th.