Atlantic City’s casinos are betting their hopes on the promise and lucrative potential of Internet gambling.
According to a comprehensive new AP report, New Jersey’s casinos are optimistic that online gaming will “revive the market’s flagging fortunes.”
This week, a panel of Wall Street analysts addressed the East Coast Gaming Congress and strongly asserted a collective view that internet gambling may hold the key to ending the city’s “seven-year losing streak.”
“I’m probably one of the more bullish people on this,” professed David Berman, senior managing director of Macquarie Capital. “It’s a big boon for Atlantic City and New Jersey.”
Online games will mark the biggest expansion of gambling in New Jersey since the state’s first casino opened in 1978.
“That’s where the big savior can come from,” Robert Heller, president of Spectrum Gaming Capital, chimed in.
Some estimates suggest that internet gambling could be at least a $500-million-a-year market for the state of New Jersey.