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Will Online Gambling Damage Atlantic City Casino?

Will Online Gambling Damage Atlantic City Casino

As New Jersey prepares to launch online gambling there are concerns that Atlantic City will suffer and it will lead to the closure of land based casinos.

Will Online Gambling Damage Atlantic City Casino

There is concern that consumers will enjoy online gambling so much that they will stop visiting land casinos

The risk is that casino players will find online gambling so convenient that they will simply stop going to visit land casinos. However, according to experts it is an unlikely scenario.

The associate professor of marketing at Montclair State University, Patrali Chatterjee, said “The extent to which this behaviour online will translate to people saying, ‘I like playing at XYZ’s website, I have so many points for meals and drinks,’ it can be a positive That’s the big challenge that casinos face: to what extent can they make the transition from bricks-and-mortar to online seamless?”

New Jersey’s officials have high hopes for online gambling; the state will be taxing casinos 15% on online gambling revenue and are hoping to bring in revenue of over $400 million a year by the end of 2014.

However, principal analyst for Applied Analysis, Jeremy Aguero, said “There’re a lot of people that believe that the development of online gaming is going to be the end of bricks-and-mortar gambling. Fair enough. I guess we’ll have to see how it plays out. “

OCA News Editor

Jenny McKinnley is OCA’s financial correspondent. After spending years on the trading floor in both NY and London, she offers insight from the inside out on world financial news and events.

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