Atlantic City Casinos Look Forward to Online Gambling
Hotels on Atlantic City’s Boardwalk are impatiently waiting for online poker regulations to be completed so that they can begin offering their guests online gambling.
The Borgata Hotel Casino and Spa is hoping to be amongst the first to offer online gambling when the licensing process has been completed.
The casino is owned by Boyd Gaming Corp and the company’s CEO, Keith Smith, said that the group is quickly moving forward with plans to offer internet gambling, earlier this week he said “we look forward to being one of the first to launch in New Jersey.”
According to Smith the online gambling market will be a hugely “lucrative market” for the company. While he wouldn’t give any estimates as to how Boyd Gaming will benefit from the new laws, he believes that New Jersey will generate internet gambling revenue between $200 million and $1.2 billion next year.
Smith went on to say that he thinks internet gambling will increase the number of visitors to Atlantic City casinos, “we think it’s going to be a great addition to our land-based platform.”
Like the majority of Atlantic City casinos, the Borgata has been struggling over recent years due to the decline in visitors and competition from neighbouring states. The casino’s net revenues drop 6% in the first quarter of this year and gross operating profits fell 27%.