Fitch Slashes NJ iGambling Revenues To Just $120m
July 18, 2014 12:57 pmDeprecated: Implicit conversion from float 1792253244.964214 to int loses precision in /home/sportsda/public_html/onlinepoker.net/wp-content/plugins/intelly-related-posts/includes/classes/utils/Logger.php on line 93
Deprecated: Creation of dynamic property IRP_HTMLContext::$isParentTable is deprecated in /home/sportsda/public_html/onlinepoker.net/wp-content/plugins/intelly-related-posts/includes/classes/html/HTMLContext.php on line 53
Deprecated: Implicit conversion from float 1792253244.964518 to int loses precision in /home/sportsda/public_html/onlinepoker.net/wp-content/plugins/intelly-related-posts/includes/classes/utils/Logger.php on line 93
Deprecated: Implicit conversion from float 1792253244.964543 to int loses precision in /home/sportsda/public_html/onlinepoker.net/wp-content/plugins/intelly-related-posts/includes/classes/utils/Logger.php on line 93
Deprecated: Implicit conversion from float 1792253244.964562 to int loses precision in /home/sportsda/public_html/onlinepoker.net/wp-content/plugins/intelly-related-posts/includes/classes/utils/Logger.php on line 93
Deprecated: Implicit conversion from float 1792253244.964575 to int loses precision in /home/sportsda/public_html/onlinepoker.net/wp-content/plugins/intelly-related-posts/includes/classes/utils/Logger.php on line 93
Deprecated: Implicit conversion from float 1792253244.964596 to int loses precision in /home/sportsda/public_html/onlinepoker.net/wp-content/plugins/intelly-related-posts/includes/classes/utils/Logger.php on line 93
Deprecated: Implicit conversion from float 1792253244.964616 to int loses precision in /home/sportsda/public_html/onlinepoker.net/wp-content/plugins/intelly-related-posts/includes/classes/utils/Logger.php on line 93
Deprecated: Implicit conversion from float 1792253244.964631 to int loses precision in /home/sportsda/public_html/onlinepoker.net/wp-content/plugins/intelly-related-posts/includes/classes/utils/Logger.php on line 93
Deprecated: Implicit conversion from float 1792253244.96465 to int loses precision in /home/sportsda/public_html/onlinepoker.net/wp-content/plugins/intelly-related-posts/includes/classes/utils/Logger.php on line 93
Deprecated: Implicit conversion from float 1792253244.964667 to int loses precision in /home/sportsda/public_html/onlinepoker.net/wp-content/plugins/intelly-related-posts/includes/classes/utils/Logger.php on line 93
Deprecated: Implicit conversion from float 1792253244.964679 to int loses precision in /home/sportsda/public_html/onlinepoker.net/wp-content/plugins/intelly-related-posts/includes/classes/utils/Logger.php on line 93
Deprecated: Implicit conversion from float 1792253244.964697 to int loses precision in /home/sportsda/public_html/onlinepoker.net/wp-content/plugins/intelly-related-posts/includes/classes/utils/Logger.php on line 93
Deprecated: Implicit conversion from float 1792253244.96471 to int loses precision in /home/sportsda/public_html/onlinepoker.net/wp-content/plugins/intelly-related-posts/includes/classes/utils/Logger.php on line 93
Deprecated: Implicit conversion from float 1792253244.964725 to int loses precision in /home/sportsda/public_html/onlinepoker.net/wp-content/plugins/intelly-related-posts/includes/classes/utils/Logger.php on line 93
Deprecated: Implicit conversion from float 1792253244.964737 to int loses precision in /home/sportsda/public_html/onlinepoker.net/wp-content/plugins/intelly-related-posts/includes/classes/utils/Logger.php on line 93
Deprecated: Implicit conversion from float 1792253244.964749 to int loses precision in /home/sportsda/public_html/onlinepoker.net/wp-content/plugins/intelly-related-posts/includes/classes/utils/Logger.php on line 93
Deprecated: Implicit conversion from float 1792253244.964761 to int loses precision in /home/sportsda/public_html/onlinepoker.net/wp-content/plugins/intelly-related-posts/includes/classes/utils/Logger.php on line 93
Deprecated: Implicit conversion from float 1792253244.964774 to int loses precision in /home/sportsda/public_html/onlinepoker.net/wp-content/plugins/intelly-related-posts/includes/classes/utils/Logger.php on line 93
Deprecated: Implicit conversion from float 1792253244.964792 to int loses precision in /home/sportsda/public_html/onlinepoker.net/wp-content/plugins/intelly-related-posts/includes/classes/utils/Logger.php on line 93
Deprecated: Implicit conversion from float 1792253244.964819 to int loses precision in /home/sportsda/public_html/onlinepoker.net/wp-content/plugins/intelly-related-posts/includes/classes/utils/Logger.php on line 93
Deprecated: Implicit conversion from float 1792253244.964833 to int loses precision in /home/sportsda/public_html/onlinepoker.net/wp-content/plugins/intelly-related-posts/includes/classes/utils/Logger.php on line 93
Deprecated: Implicit conversion from float 1792253244.964846 to int loses precision in /home/sportsda/public_html/onlinepoker.net/wp-content/plugins/intelly-related-posts/includes/classes/utils/Logger.php on line 93
Deprecated: Implicit conversion from float 1792253244.964865 to int loses precision in /home/sportsda/public_html/onlinepoker.net/wp-content/plugins/intelly-related-posts/includes/classes/utils/Logger.php on line 93
Deprecated: Implicit conversion from float 1792253244.964889 to int loses precision in /home/sportsda/public_html/onlinepoker.net/wp-content/plugins/intelly-related-posts/includes/classes/utils/Logger.php on line 93
Deprecated: Implicit conversion from float 1792253244.964906 to int loses precision in /home/sportsda/public_html/onlinepoker.net/wp-content/plugins/intelly-related-posts/includes/classes/utils/Logger.php on line 93
Deprecated: Implicit conversion from float 1792253244.964923 to int loses precision in /home/sportsda/public_html/onlinepoker.net/wp-content/plugins/intelly-related-posts/includes/classes/utils/Logger.php on line 93
Deprecated: Implicit conversion from float 1792253244.964939 to int loses precision in /home/sportsda/public_html/onlinepoker.net/wp-content/plugins/intelly-related-posts/includes/classes/utils/Logger.php on line 93
Deprecated: Implicit conversion from float 1792253244.964959 to int loses precision in /home/sportsda/public_html/onlinepoker.net/wp-content/plugins/intelly-related-posts/includes/classes/utils/Logger.php on line 93
Deprecated: Implicit conversion from float 1792253244.96498 to int loses precision in /home/sportsda/public_html/onlinepoker.net/wp-content/plugins/intelly-related-posts/includes/classes/utils/Logger.php on line 93
Deprecated: Implicit conversion from float 1792253244.964996 to int loses precision in /home/sportsda/public_html/onlinepoker.net/wp-content/plugins/intelly-related-posts/includes/classes/utils/Logger.php on line 93
Deprecated: Implicit conversion from float 1792253244.965018 to int loses precision in /home/sportsda/public_html/onlinepoker.net/wp-content/plugins/intelly-related-posts/includes/classes/utils/Logger.php on line 93
Deprecated: Implicit conversion from float 1792253244.965036 to int loses precision in /home/sportsda/public_html/onlinepoker.net/wp-content/plugins/intelly-related-posts/includes/classes/utils/Logger.php on line 93
Deprecated: Implicit conversion from float 1792253244.96505 to int loses precision in /home/sportsda/public_html/onlinepoker.net/wp-content/plugins/intelly-related-posts/includes/classes/utils/Logger.php on line 93
Deprecated: Implicit conversion from float 1792253244.965063 to int loses precision in /home/sportsda/public_html/onlinepoker.net/wp-content/plugins/intelly-related-posts/includes/classes/utils/Logger.php on line 93
Deprecated: Implicit conversion from float 1792253244.965077 to int loses precision in /home/sportsda/public_html/onlinepoker.net/wp-content/plugins/intelly-related-posts/includes/classes/utils/Logger.php on line 93
Deprecated: Implicit conversion from float 1792253244.96509 to int loses precision in /home/sportsda/public_html/onlinepoker.net/wp-content/plugins/intelly-related-posts/includes/classes/utils/Logger.php on line 93
Deprecated: Implicit conversion from float 1792253244.965104 to int loses precision in /home/sportsda/public_html/onlinepoker.net/wp-content/plugins/intelly-related-posts/includes/classes/utils/Logger.php on line 93
Deprecated: Implicit conversion from float 1792253244.965118 to int loses precision in /home/sportsda/public_html/onlinepoker.net/wp-content/plugins/intelly-related-posts/includes/classes/utils/Logger.php on line 93
Deprecated: Implicit conversion from float 1792253244.965148 to int loses precision in /home/sportsda/public_html/onlinepoker.net/wp-content/plugins/intelly-related-posts/includes/classes/utils/Logger.php on line 93
Deprecated: Implicit conversion from float 1792253244.965164 to int loses precision in /home/sportsda/public_html/onlinepoker.net/wp-content/plugins/intelly-related-posts/includes/classes/utils/Logger.php on line 93
Deprecated: Implicit conversion from float 1792253244.965184 to int loses precision in /home/sportsda/public_html/onlinepoker.net/wp-content/plugins/intelly-related-posts/includes/classes/utils/Logger.php on line 93
Deprecated: Implicit conversion from float 1792253244.965197 to int loses precision in /home/sportsda/public_html/onlinepoker.net/wp-content/plugins/intelly-related-posts/includes/classes/utils/Logger.php on line 93
Deprecated: Implicit conversion from float 1792253244.965209 to int loses precision in /home/sportsda/public_html/onlinepoker.net/wp-content/plugins/intelly-related-posts/includes/classes/utils/Logger.php on line 93
Deprecated: Implicit conversion from float 1792253244.965221 to int loses precision in /home/sportsda/public_html/onlinepoker.net/wp-content/plugins/intelly-related-posts/includes/classes/utils/Logger.php on line 93
Deprecated: Implicit conversion from float 1792253244.965239 to int loses precision in /home/sportsda/public_html/onlinepoker.net/wp-content/plugins/intelly-related-posts/includes/classes/utils/Logger.php on line 93
Deprecated: Implicit conversion from float 1792253244.965255 to int loses precision in /home/sportsda/public_html/onlinepoker.net/wp-content/plugins/intelly-related-posts/includes/classes/utils/Logger.php on line 93
Deprecated: Implicit conversion from float 1792253244.965275 to int loses precision in /home/sportsda/public_html/onlinepoker.net/wp-content/plugins/intelly-related-posts/includes/classes/utils/Logger.php on line 93
Deprecated: Creation of dynamic property WP_Term::$cat_ID is deprecated in /home/sportsda/public_html/onlinepoker.net/wp-includes/category.php on line 357
Deprecated: Creation of dynamic property WP_Term::$category_count is deprecated in /home/sportsda/public_html/onlinepoker.net/wp-includes/category.php on line 358
Deprecated: Creation of dynamic property WP_Term::$category_description is deprecated in /home/sportsda/public_html/onlinepoker.net/wp-includes/category.php on line 359
Deprecated: Creation of dynamic property WP_Term::$cat_name is deprecated in /home/sportsda/public_html/onlinepoker.net/wp-includes/category.php on line 360
Deprecated: Creation of dynamic property WP_Term::$category_nicename is deprecated in /home/sportsda/public_html/onlinepoker.net/wp-includes/category.php on line 361
Deprecated: Creation of dynamic property WP_Term::$category_parent is deprecated in /home/sportsda/public_html/onlinepoker.net/wp-includes/category.php on line 362
Deprecated: ltrim(): Passing null to parameter #1 ($string) of type string is deprecated in /home/sportsda/public_html/onlinepoker.net/wp-includes/wp-db.php on line 2975
Deprecated: Creation of dynamic property WP_Term::$object_id is deprecated in /home/sportsda/public_html/onlinepoker.net/wp-includes/class-wp-term.php on line 198
Deprecated: Creation of dynamic property WP_Term::$object_id is deprecated in /home/sportsda/public_html/onlinepoker.net/wp-includes/class-wp-term.php on line 198
Deprecated: Creation of dynamic property WP_Term::$object_id is deprecated in /home/sportsda/public_html/onlinepoker.net/wp-includes/class-wp-term.php on line 198
Deprecated: Creation of dynamic property WP_Term::$object_id is deprecated in /home/sportsda/public_html/onlinepoker.net/wp-includes/class-wp-term.php on line 198
Deprecated: Creation of dynamic property WP_Term::$object_id is deprecated in /home/sportsda/public_html/onlinepoker.net/wp-includes/class-wp-term.php on line 198
Deprecated: Creation of dynamic property WP_Term::$object_id is deprecated in /home/sportsda/public_html/onlinepoker.net/wp-includes/class-wp-term.php on line 198
Deprecated: Creation of dynamic property WP_Term::$object_id is deprecated in /home/sportsda/public_html/onlinepoker.net/wp-includes/class-wp-term.php on line 198
Deprecated: Creation of dynamic property WP_Term::$object_id is deprecated in /home/sportsda/public_html/onlinepoker.net/wp-includes/class-wp-term.php on line 198
Deprecated: Creation of dynamic property WP_Term::$object_id is deprecated in /home/sportsda/public_html/onlinepoker.net/wp-includes/class-wp-term.php on line 198
Deprecated: Creation of dynamic property WP_Term::$object_id is deprecated in /home/sportsda/public_html/onlinepoker.net/wp-includes/class-wp-term.php on line 198
Deprecated: Creation of dynamic property WP_Term::$object_id is deprecated in /home/sportsda/public_html/onlinepoker.net/wp-includes/class-wp-term.php on line 198
Deprecated: Creation of dynamic property WP_Term::$object_id is deprecated in /home/sportsda/public_html/onlinepoker.net/wp-includes/class-wp-term.php on line 198
Deprecated: Creation of dynamic property WP_Term::$object_id is deprecated in /home/sportsda/public_html/onlinepoker.net/wp-includes/class-wp-term.php on line 198
Deprecated: Implicit conversion from float 1792253244.971867 to int loses precision in /home/sportsda/public_html/onlinepoker.net/wp-content/plugins/intelly-related-posts/includes/classes/utils/Logger.php on line 93
Deprecated: Creation of dynamic property WP_Term::$cat_ID is deprecated in /home/sportsda/public_html/onlinepoker.net/wp-includes/category.php on line 357
Deprecated: Creation of dynamic property WP_Term::$category_count is deprecated in /home/sportsda/public_html/onlinepoker.net/wp-includes/category.php on line 358
Deprecated: Creation of dynamic property WP_Term::$category_description is deprecated in /home/sportsda/public_html/onlinepoker.net/wp-includes/category.php on line 359
Deprecated: Creation of dynamic property WP_Term::$cat_name is deprecated in /home/sportsda/public_html/onlinepoker.net/wp-includes/category.php on line 360
Deprecated: Creation of dynamic property WP_Term::$category_nicename is deprecated in /home/sportsda/public_html/onlinepoker.net/wp-includes/category.php on line 361
Deprecated: Creation of dynamic property WP_Term::$category_parent is deprecated in /home/sportsda/public_html/onlinepoker.net/wp-includes/category.php on line 362
Deprecated: Implicit conversion from float 1792253244.972509 to int loses precision in /home/sportsda/public_html/onlinepoker.net/wp-content/plugins/intelly-related-posts/includes/classes/utils/Logger.php on line 93
Deprecated: Implicit conversion from float 1792253244.97281 to int loses precision in /home/sportsda/public_html/onlinepoker.net/wp-content/plugins/intelly-related-posts/includes/classes/utils/Logger.php on line 93
The state of New Jersey has been reeling recently as its casino industry continues to be battered by streams of grim news that threatens to turn the east coast gambling hub into a second Detroit. This week the news got worse after credit rating firm, Fitch Ratings, cut its estimated igaming revenues for 2014 from $200/$300 million to just $120/$130 million.
Prior to New Jersey launching its first online gambling site in November 2013, Governor Chris Christie predicted igaming would bring the state more than $1 billion in annual revenues, but for the first seven months of operations New Jersey has generated a mere $63.05m in revenues, with online casino games accounting for $46.37 million of that tally, and online poker $16.67 million.
Needless to say, The Garden State’s online gambling industry hasn’t developed the way optimists were touting, and explaining the reason behind its latest cut in forecasts, Fitch Ratings wrote:
“Several factors we had expected to drive sequential growth have not materialized, including a ramp-up in players’ awareness of online gaming as a result of operators’ marketing efforts. The number of online gaming accounts increasing 8 percent in June to 378,564 from 351,136 in May, and tripling since December, has not translated into increased revenue. Other factors expected to drive growth include technology improvements, users’ adaption to the available payment methods and the rollout of mobile products.”
When online gambling was introduced to NJ it was hoped revenues would help give its battered casino industry a much-needed shot in the arm, but things have continued to go from bad to worse. This year alone the Showboat Casino, the Trump Plaza Casino, and Revel, are expected to follow in the footsteps of The Atlantic Club Casino and shut shop, cutting Atlantic City casino numbers by a third.
For the first time New Jersey is even considering allowing casinos to be built outside of AC, with a possible location cited as Meadowlands near New York City. However, Fitch has warned such a move would also present additional risk for Atlantic City casinos, which have seen their revenues plummet from $5.2 billion in 2006, to just $2.86 billion last year.
Poker News
