New Jersey Online Gambling Could be Worth $1billion

An industry analyst has said that New Jersey’s new online gambling industry could be worth up to $1 billion, and top groups entering this market would be able to share a huge chunk of that sum.

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Recently, the Governor of New Jersey, Chris Christie signed into law a bill that will see the introduction of regulated and authorized online gambling, including poker, from Atlantic City casinos.

Industry analyst, Brian McGill has said it would not be unreasonable to expect the value of the market to eventually reach $1 billion.  The potential for top brands such as Bally Technologies and International Game Technology (IGT) is huge, according to the analyst, and by providing content to Atlantic City casinos, they could be taking home a $100 – $150 million chunk of the market.

Taking IGT as an example, McGill said: “The opportunity for IGT would be to place its slots content on operator websites once online gaming is set up. IGT has some of the best content and slot machines in the space, such as their big-title Wheel of Fortune.”

The value of the New Jersey online gambling market won’t be immediately worth $1 billion, said McGill, who added that it would take time until the logistics are set into motion and the licensing process gets underway.  His opinion is that we won’t be seeing any type of online gambling in the Garden State before the beginning of 2014, however it is inevitable that more states will follow suit as they realize the huge economic potential to be had by introducing a regulated online gambling industry.  Delaware also allows online gambling and poker, while Nevada is sticking to online poker at the moment.
“We’re just at the beginning of the potential wave of online gaming being legalized over the next few years,” said McGill.

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