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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."
 
http://www.bloomberg.com/video/no-jackpot-for-nj-s-online-gambling-in-slow-start-0G9eH5aGRry4nmBl~TA0Fw.html

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Gambling News :

Tain Fast Bet - Our readers will recall Tain recently increased the number of live events it covers each month to 23,000, covering both traditional markets such as football, tennis and US sports and the more obscure curling, biathlon and Water Polo.

Olympic Entertainment Group Mobile Gaming - In its full-year 2016 report, Olympic Entertainment Group (OEG) has informed the establishment of a Malta-based company registered to facilitate its intended expansion into remote gambling.

Circus Evolution HD Slot - Malta-based content provider World Match has released its first title of 2017, “Circus Evolution HD”, a 5-reel, 3-row, circus-themed adventure offering Free Spins, Wilds and a Bonus Game.

Kindred Group Gets EU Recommendation on Consumer Protection - Kindred Group (formerly Unibet) has become the first operator to successfully meet the requirements of the EU Recommendation on Consumer Protection and Responsible Gambling following an external audit.

17 Crown people still detained - Reports from China over the weekend suggest that the 17 Crown people still detained could be looking at another twelve months of imprisonment as investigations into their alleged and still unspecified crimes drag on

SB1400 Virginia Poker Skill Game Bill - Her bill SB1400 is currently with the Senate General Laws and Technology Committee, whose 15 members will decide whether to progress it or condemn the Senator to another year of failure.

Pennsylvania Video Gaming Association - With the focus on Pennsylvania as the most likely next US state to legalize online gambling as part of a general gambling expansion measure, reporters noted this week the emergence of a new lobbying group in the state - the Pennsylvania Video Gaming Association.

Stiffer Problem Gambling Penalties in UK - The Guardian newspaper reports that the UK Gambling Commission plans to unveil new enforcement strategies on problem gambling and money laundering prevention this month, laying down tougher penalties for operators who fail to tackle these issues.

Malaysian police Destroy over 5000 Gambling Computers - Malaysian police in Kajang have destroyed 5,042 computer sets seized in online gambling raids over the past two years, explaining that the action is designed to take the machines out of circulation.

Spartan Poker vs SpartanPoker name War - Pokerguru, which owns the brand SpartanPoker.com, has threatened to sue the Indian Poker Championship over its use of the title Spartan Poker, and recently published a notification that it is not associated with the IPC version of the brand.

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