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New Jersey Internet gambling revenue estimates overblown :Fitch

27
Nov
2013

(Reuters) – Online gambling alone won’t save struggling Atlantic City casinos, and the revenues it generates could fall far short of projections by Governor Chris Christie, Fitch Ratings said on Tuesday. Fitch estimates that casinos would generate up to $300 million in revenues from online gambling next year, ramping up to as much as $750 million within several years. Those estimates are well below Christie’s projected $1.2 billion over the next year, Fitch said. New Jersey became the third and most populous U.S. state to launch Internet gaming when state regulators approved 13 websites run by six Atlantic City casino operators to go live to the public at midnight on Monday.

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