News Article

Christie Sticks With Online Gaming Revenue Estimates

By Phil Gregory, WBGO News
Trenton. December 2, 2013

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Governor Chris Christie at Statehouse news conference
Governor Chris Christie at Statehouse news conference (photo by Phil Gregory)

The Division of Gaming Enforcement will release its first report next month on revenue from online gambling in New Jersey.  It’s unclear just how much money the Internet wagering will generate.

Governor Christie is sticking with projections that Atlantic City casino revenues in the first year of online gaming will exceed a billion dollars even though analysts at Fitch Ratings and Moody’s Investors Service expect it will be less than half that amount.

Senate President Steve Sweeney says Christie’s estimates are overly optimistic and will force adjustments to the state budget.

‘We’ll wind up like we do with all budgets. As we’re looking right now there a hole of a hundred and some million dollars. We expect that to grow. We’ll get down to work with the administration seeing where we can curtail costs.”

So far more than 51,000 accounts have been set up by people who want to make those online bets.

Senator Ray Lesniak says it’s too soon to tell how successful online gaming in New Jersey will be.

 “There were hundreds of thousands of New Jersey residents playing poker on offshore sites. They’re not going to rush right into the New Jersey sites immediately. That happens over time.”

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