Wall Street: Online bets can help AC market grow
A panel of Wall Street experts says Internet gambling can help revive the flagging fortunes of Atlantic City’s casinos.
Speaking at an annual casino conference Wednesday, four analysts said Internet gambling offers Atlantic City a new way to boost casino revenues that have been falling for seven years.
But some cautioned that allowing customers to bet online instead of physically visiting casinos could cannibalize revenues.
New Jersey is one of three states to have legalized Internet gambling and issued regulations for it last week. The state expects to begin taking bets online by the end of the year.
Nevada and Delaware also have legalized online betting.
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