Will online gambling save Atlantic City’s land based casinos?

Legal online casino in Atlantic CityTo-day for the first time all players located in the state of New Jersey were legally able to sign up to gamble in an online casino. After a five day trial period that has been generally successful, the hopes are high that online casinos could come to the rescue of ailing land based casinos in Atlantic City. Since online casinos in New Jersey can only be operated in partnership with one of Atlantic City’s twelve land based casinos, the revenue from internet gambling will also benefit the traditional casinos. The seven Atlantic City casinos who were granted licences for online gambling within New Jersey are The Borgata, Caesars, Ballys, The Trump Plaza, The Trump Taj Mahal, The Tropicana and the Golden Nugget.

New Jersey’s governor, Chris Christie initially vetoed the proposed legislation that would have allowed online gambling in the state. However after amendments were made, he signed the legislation last February and contrary to what many thought, internet gambling became legal and highly regulated just nine months later. It is believed that the online casinos will generate about one billion dollars in their first six months of operation and a good percentage of this will go to the state in the form of taxes.Supporters of online gambling within the state claim that since  several of Atlantic City’s land based casinos have had to declare bankruptcy, that their main hope for survival is their involvement in online gambling. Revenue from land based casinos has dropped by almost a third from over 5 billion dollars some years ago. This drop in income could mean that casinos would have to lay off workers.While most are optimistic about the long term future of online casinos in New Jersey, there are now some short term problems that the seven licence holders must iron out. One licence holder, the Golden Nugget has had to hold off launching its online casino fully and remains in the trial phase due to some problems that need to be sorted before it gets final approval from the Division of Gaming Enforcement. The other operators are facing opposition from some banks to processing money from gambling, there are also some problems signing into certain casinos as proof of residency in the state is required. However all of the operators hope to have these glitches sorted out in the near future and hopefully bring a better future to Atlantic City too.

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