Respected analyst Chris Groves debunks some of the anti-online gambling misinformation
New Jersey has enjoyed a windfall of new tax revenue, Atlantic City has been revitalised, and the state regulatory system has been proven a success since the Garden State legalised and regulated online gambling in 2013, says a new eight page report entitled “Regulated Online Gambling: Building A Stronger New Jersey” prepared for NJOnlineCasinos by respected author and analyst Chris Groves.
The report debunks many of the myths that opponents have used to argue against regulated online gambling, and details the overwhelmingly positive data from legalisation in November 2013 through March 2017.
The benefits of regulated online gambling in New Jersey have included:
* $536.62 million in total new revenue for casino operators.
* $93.91 million in direct tax revenue for the state.
* More than 3,300 jobs created or supported.
* A reversal of revenue declines in Atlantic City.
* Successful implementation of regulations that protect consumers.
“Sweep aside the misinformation spread by agenda-driven critics and a clear picture emerges: Regulated online gambling in New Jersey has been a definitive win for casinos, consumers and the state,” says Grove.
“Any state looking to New Jersey can draw three clear lessons,” he added. “First, regulation works. Second, there is a massive consumer demand for online products. Finally, online gambling supports the health and long-term viability of land-based casinos.”
Nowhere is the positive impact of legalised online gambling felt more than in Atlantic City. Not only has online gambling injected more than $530 million in new revenue, but in 2016 the iconic destination posted its first year-over-year increase in gambling revenue in 10 years.
Importantly, executives from Borgata Hotel Casino and Spa, Caesars Interactive Entertainment and Golden Nugget – Atlantic City have all confirmed in statements that at least 80 percent of online customers have been new to their casinos. This evidence disposes of one of the chief arguments employed by opponents of legal online gambling: that regulated online gambling siphons off revenue from land-based casinos.
“Hard data from the Borgata, Caesars and the Golden Nugget has demolished any doubt,” Grove says. “The online customer is a new customer, one that generates new revenue for casinos. These customers are critical to the turnaround just now starting to take hold in Atlantic City — and they wouldn’t exist without legal online gambling.”
To download a free copy of the full eight-page NJ Online Casinos report, visit the website.
Online Casino News Courtesy of Infopowa
