AC Casinos Apply For Online Licences Ahead Of November StartJuly 2, 2013 1:42 pm
Earlier this year, The New Jersey Division of Gaming Enforcement (DGE) gave its 12 state casinos until June 30th to submit their online gambling permits, and online operators partnered with the casinos until July 29. Once the process is completed it is then hoped that New Jersey will officially launch its Internet gambling industry on November 26th, resulting in revenue estimates anywhere from $500 million to $1 billion each year.
Now it would appear that all Atlantic City’s casinos have filed their applications ahead of its Sunday deadline, and as DGE spokeswoman Lisa Spengler explains: “For applicants that meet this filing deadline, the Division will be in a position to determine if they can commence Internet gaming operations by the go-live date.”
Amongst those casinos partnering with online gaming companies and applying for online licenses are The Trump Taj Mahal casino and Las Vegas-based Ultimate Gaming; Atlantic City’s Borgata Hotel Casino & Spa and Bwin.Party Digital Entertainment; and four Atlantic City Caesars Entertainment owned casinos and 888 Holdings Plc.
Online gambling represents the biggest expansion to Atlantic City’s gambling industry since land-based casinos were introduced in 1978. The first stage of the online wagering roll-out will then allow gambling on computers and mobile devices located solely within state borders, with the possibility of multistate Internet agreements to be explored later. At the heart of New Jersey’s consideration, however, will be ensuring sufficient safeguards are put in place in order to prevent cheating and underage gambling.
Internet gambling is seen as a potential lifeline for New Jersey, which has seen its revenue drop by more than 40% to $3 billion in 2012, since peaking at $5.2 billion in 2006. Contributing to its decline has been increased competition from neighbouring states, such as Pennsylvania, Delaware and Maryland.