Land based Atlantic City Casino The Borgata has revealed that it will enter the legalized New Jersey internet betting market once regulations are put into place.
The announcement came as the firm's executives spoke to reporters earlier this week. The move to cyber betting is aimed at drawing in new punters and capitalizing on new business opportunities.
“We intend to be among the first to offer online gambling in the state of New Jersey and are confident the Borgata brand will allow us to capture a substantial share of this lucrative market," Keith Smith, President and CEO of Boyd Gaming (Borgata's owner) said.
“We think it’s going to be a great addition to our land-based platform."
It is estimated that internet betting could be ready for implementation by November of this year. The Borgata could definitely use any boost in revenues that internet betting could bring. The company saw revenues drop 6% in the first quarter of the year, while profits fell 27%. Despite this, the casino is the best performing group in Atlantic City, with its successful resort bringing in the best numbers in the beleaguered city.