Sunday March 03,2013 : ANALYST SAYS NEW JERSEY ONLINE GAMBLING MARKET HAS GREAT POTENTIAL
Billion dollar revenues are possible
Giving his assessment of the New Jersey online gambling market after Gov. Chris Christie signed last week's legalization bill, industry analyst Brian McGill estimated that the overall size of the New Jersey online gambling market could be $1 billion.
Established companies supplying the Atlantic City land casino operators who would hold the licenses could share a possible $100 to $150 million in content and technology sales, he said, naming IGT, Bally Technologies, SHFL Entertainment and WMS Industries.
However, McGill says it's likely to take a while to get regulations in place, estimating that it take until 2014 for the New Jersey online gambling platform to get up and running, and a couple of years for it to grow.
McGill also opined that the US online gambling opportunity could eventually be wider as more states follow the legalization example set by Nevada, Delaware and New Jersey.
"We're just at the beginning of the potential wave of online gaming being legalized over the next few years," he said.