Is Internet betting a blessing for Atlantic City?
The people who write cheques that help keep Atlantic City's club afloat say Internet betting can help resuscitate the market's hailing fortunes.
Talking at The East Coast Gaming Congress Wednesday, a board of Wall Street investigators said the venture network sees Internet betting as an approach to at long last end the city's seven-year losing streak. The state intends to offer online wagers before the year's over.
"I'm presumably one of the more bullish individuals on this," said David Berman, senior overseeing executive of Macquarie Capital. "It's a major help for Atlantic City and New Jersey."
Web-based games will stamp the greatest development of betting in New Jersey since the state's first clubhouse opened in 1978. "That is the place the huge rescuer can originate from," included Robert Heller, president of Spectrum Gaming Capital.
New-Jersey is one of three states to sanction Internet betting, alongside Nevada and Delaware. New-Jersey a week ago issued controls on how the web-based amusements are to be completed.
John Kempf, managing executive of RBC Capital Markets, assessed Internet betting could be a $500-million-to-$600-million-a-year market for New Jersey.
In any case, a few of the specialists additionally advised that nobody yet knows how giving individuals a chance to bet online instead of expecting them to physically visit club will affect the betting lobbies' primary concern.
Keith Smith, president of Boyd Gaming, which claims a large portion of the city's best club, the Borgata Hotel Casino, and Spa, said he anticipates that Internet betting will encourage his physical gambling club. "I am sure it will stimulate development and appearance for our club itself," he said.
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