BUSINESS

Dwindling casino revenue could inspire online gambling in NJ

TAGs: New Jersey

FootballDid you ever see the movie Rudy? The movie is the touching tale of how Mikey from the Goonies grew up to play for Notre Dame despite the notable handicap of being a hobbit. In the movie, the whole universe was seemingly against this scrappy kid, but through true grit and determination he managed to make it on the field and sack the opposing quarterback to win the game for the Fighting Irish. It’s kind of a fitting image for Online Gambling in New Jersey, the scrappy kid that nobody wanted who could actually save the day.

The Associated Press is reporting that Atlantic City casinos took a 12.3 percent hit in October, with 9 out of 11 casinos reporting revenue losses. The biggest hits were in table games, which dropped 17 percent to $84.6 million, though slots, the region’s biggest performer, dropped an estimated 10 percent to $199.4 million.

Analysts believe this may be a wakeup call for the Garden State to “put the kid in” and let online gambling fill the gap in business that is heading across the border and into other states like Pennsylvania and Maryland.

Never one to rest on its laurels, Harrah’s Entertainment has been preparing for this inevitability by launching its own online gambling hubs in territories where the practice is legal, which will provide an infrastructure for when it is available in the U.S.

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