During a quarterly earnings conference call on April 24th, executives of Borgata's parent company announced that Borgata Hotel Casino & Spa in Atlantic City planned to be the first casino to offer real-money online gambling in New Jersey.
President and chief executive officer of Boyd Gaming Corp., Keith Smith, said Borgata would "quickly introduce online wagering once New Jersey officials finish the regulations." The Press of Atlantic City reported that Smith didn't give any specific dates for a launch, but New Jersey regulators believe the online gambling market will open by November 26th, 2013.
“We intend to be among the first to offer online gambling in the state of New Jersey and are confident the Borgata brand will allow us to capture a substantial share of this lucrative market,” Smith said.
Marina District Development owns Borgata — Marina District Development being the product of Boyd Gaming and MGM Resorts International. Although an online gaming partner has not been announced, the common thought is that the Borgata would strike a deal with bwin.party digital entertainment — already teamed with MGM and Boyd to supply the real-money online poker to Nevada players.
Online gambling was legalized in New Jersey back in February when Gov. Chris Christie signed a bill into law. New Jersey is the third state to legalize online poker behind Nevada and Delaware. Nevada is the only state that legalized online poker only, whereas, the other two have casino-style online gambling approved.
Smith said, “New Jersey and Nevada are now laying the regulatory groundwork for online gaming, and other states are considering legalization as well."
New Jersey state treasurer Andrew Sidamoon-Eristoff estimates that online gambling could bring in as much as $1.2 billion in the first full year in the state and tax revenues could reach $180 million. There are many that believe that number is overly exaggerated. An estimate of New Jersey's gross Internet revenue was estimated by Philadelphia-based consulting firm Econsult Corporation to be between $210 million and $250 million for the first year, reported by the Press of Atlantic City.
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