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BloombergTV Examining NJ Online Gambling
Thursday January 16,2014 : BLOOMBERG 'MARKET MAKERS' T.V. EXAMINES NEW JERSEY ONLINE GAMBLING
Ironing out credit card problems is critical, says analyst.
Bloomberg TV was one of the many business and mainsteam media publications reporting on the official stats for New Jersey's first six weeks of legalised online gambling this week
The company's "Market Makers" program talked with Bloomberg analyst Brian Miller on the rather slow start the numbers suggest.
Miller said that when extrapolated, the six-week number of $8.4 million indicated a first year revenue figure of around $75 million, which would be well short of previous political estimates, but he acknowledged that it was early days yet, and that new initiatives and companies entering the market would inevitably have a positive impact statistically.
Miller said that many of the teething problems had been ironed out, but that a key area of concern was the reluctance of US credit card companies, other than Mastercard-Visa, to cooperate in letting New Jersey players make deposits at online gambling websites.
That was an area that could slow development of the nascent industry in New Jersey down, he said.
On the more positive side, Miller pointed to evidence which suggested that online gambling was not going to "cannibalise" brick and mortar casino patronage, and could in fact enhance land casino fortunes by bringing in a new breed of gambler that has hitherto rarely visited physical casinos.
Miller opined that Atlantic City's land casino problem was caused by too many operators in a more competitive environment as neighbouring states opened up rival land-based operations.
If the number of AC casinos were substantially reduced, the land market would improve, he said, at the same time acknowledging that persuading operators to do that would be difficult.
One thing Miller was sure about..."online gambling is here to stay."
NHL Odds: Lightning go for Season Sweep Over Red Wings -
The Tampa Bay Lightning (37-29-9) have been doing everything possible to make a fourth straight appearance in the Stanley Cup Playoffs. Without star centre Steven Stamkos, Nikita Kucherov (38 goals, 40 assists) and Victor Hedman (15 goals, 47 assists) have stepped up and will look to continue their strong play against the Wings. Game time is 7:30 PM ET on FS-D.
MPN Charity Poker Tournament at ICE 2017 -
During what was a busy three-days for Microgaming at ICE Totally Gaming 2017, the MPN team enjoyed a charity poker tournament with Microgaming operators on Tuesday 7 February.
US$30M DUBAI WORLD CUP -
Racecourse Media Group and Meydan to showcase world’s richest raceday to more than 150 territories The Dubai World Cup is the first horse race to be broadcast live on airlines and cruise lines
NHL Odds: Forsberg Faces Elliott in Nashville -
The last time the Nashville Predators played against the Calgary Flames, Calgary had a 4-1 lead five minutes into the second period. Nashville responded with four back-to-back goals, including a hat trick from centreman Filip Forsberg. Both teams went into overtime with five goals, and Calgary defenseman Mark Giordano (12 goals, 22 assists) scored the winning goal.
NBA Odds: Hawks, Wiz in Southeast Showdown -
The Washington Wizards (42-27 SU, 36-32-1 ATS) can pretty much secure the Southeast Division title with a win Wednesday night over the Atlanta Hawks (37-32 SU, 31-38 ATS). Tip-off is at 8 PM ET on ESPN; the Wizards lead Atlanta by five games with less than a month remaining before the playoffs.
NBA Odds: Clippers Try to Slow Down Bucks in LA -
Milwaukee Bucks small forward Giannis Antetokounmpo and Los Angeles Clippers power forward Blake Griffin are two of the most talented and versatile forwards in the NBA. The two lead their teams into battle on Wednesday in Los Angeles.
NHL Odds: Canadiens Welcome Islanders Tonight -
The Montreal Canadiens (32-20-8) welcome the New York Islanders (28-21-10) on Thursday (7:30 PM ET on SNE). After getting their first victory under new head coach Claude Julien, the Canadiens will look to build on that momentum against a red-hot Islanders team.
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