Atlantic City Profits From Online Gambling

Posted By: Date: 11/18/2014 at 12:00 am Leave a comment

New Jersey is, without question, one of the most forward-thinking states in the nation. Not only is it legal to gamble online there, but they’re also working on passing sports betting. It came as a shock to many when it was announced that several casinos were closing down in 2014.

A lot of people were worried about the economic status of Atlantic City heading into the end of 2014. They had built too many casinos, and now that they were closing, where would that missing revenue come from? Online gambling, that’s where. And boy, did it ever.

Thanks to online gambling, Atlantic City was able to avoid any serious blow to their economy. Not only did online gambling fill the void left by the casinos that closed down, it even caused Atlantic City to post a profit. Now, one specific hotel and casino is coming forward and discussing things in a bit more detail.

Thanks to online gambling, Borgata’s online gambling operations are in the black for 2014. This comes less than a year after launching in New Jersey.

During a conference call, Boyd Gaming President and CEO Keith Smith said “Borgata’s online gaming business was profitable throughout the third quarter. We expect to see further improvement in the fourth quarter as online business should pick up during the colder winter months.”

The news put Borgata ahead of the expectations set by Boyd last quarter, but Smith didn’t want to be too confident – he said that online gambling operations will “continue to operate on a breakeven basis in the third and fourth quarter.”

Borgata’s news is good news for everyone involved, especially the state of New Jersey. Borgata has accounted for nearly a third of all casino revenue generated in New Jersey in 2014, and that only looks like it’s going to increase.

For the supporters of online gambling, this shouldn’t be news. Those that support online gambling know of all the benefits it brings, especially the promotions. No deposit promotions are something that land-based casinos just can’t compete with, and they bring in loads of new customers each time.

As we approach the Winter season, the weather outlook is becoming more and more dire. There’s currently a huge winter storm gripping half of the nation, and it’s going to get worse before it gets better. The one thing that isn’t getting worse, however, is online gambling, and Keith Smith is correct – when there’s snow on the ground, people aren’t going to want to leave their houses to gamble, they’re going to just log on to the computer. And when they do, online casino operators in Atlantic City and all throughout New Jersey will be ready and waiting for them.

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