Thursday August 6,2015 : ONLINE GAMBLING IN NEW JERSEY WORKS WELL FOR BORGATA
Earnings have grown 45 percent year-on-year.
During the recent Q2-2015 press conference Boyd Gaming CEO Kevin Smith revealed that his company's investment in the Borgata online gambling initiative in New Jersey has so far yielded impressive results, with four consecutive quarters showing gains and a 45 percent year-on-year increase in profit, albeit still at relatively small levels.
“EBITDA at the Borgata grew by about 45 percent year-over-year including 1.6 million in EBITDA from our online operation,” said Smith.
During the most recent quarter the operator, in partnership with European online gambling group Bwin.Party Digital Entertainment, recorded profits of $1.1 million on gross gaming revenue of $11.7 million.
Prospects for the third quarter 2015, as summer edges into autumn and online action tends to pick up, are said to be positive.