A number of states in the nation are contemplating the legalization of online poker and one of these is the state of New Jersey. The hotels in Atlantic City are eagerly waiting for the bill to be passed making online poker legal, thereby allowing them to offer their patrons are chance to play online poker at their casinos.
The Borgata Hotel Casino and Spa in Atlantic City is one such hotel and is positive that the state of New Jersey will soon permit online Poker.
The hotel along with many others is positive that both its patrons and revenues will increase significantly once they are able to offer online poker games. The Borgata Hotel Casino and Spa is owned by the Boyd Gaming Corp.
A number of casinos in Atlantic City have been going through a difficult period and the Borgata is no exception. The casino has suffered for a long period due to stiff competition from neighbouring states, bad weather during major events and the struggling economy. The casino has really taken a hit as its revenues for the first quarter of 2013 has fallen 6%, while its gross operating margins declined by 27% when compared to the same period in 2012.
The hotel spearheaded by CEO, Keith Smith is doing everything it can to be one of the first hotels to get an official license from the state to provide online poker. Smith confirmed that his hotel was looking at a number of providers to install internet gambling operations on the premises. Smith wants to make sure he has everything in place as he expects the licensing process to be completed in the near future.
In a statement, Smith said
We look forward to being one of the first to launch in New Jersey. We think it’s going to be a great addition to our land-based platform.
While Smith did not confirm on how much he expects his hotel to earn from online gambling, he did say that it is a lucrative market and expected the revenue to be of significant value.
If online gambling gets approval from the state of New Jersey, the state could benefit immensely in taxes that will be imposed on all internet gambling revenue. Gambling experts and analysts predict that the online gambling market in New Jersey is extremely lucrative and could bring the state as much as $1 billion in revenue.
