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New Jersey Casinos Ready For Internet Gambling

On November 26th New Jersey residents and visitors will be able to start gambling on the internet. There will be a five day trial period to make sure that that the systems operated by Atlantic City casinos work properly. The New Jersey Gaming Enforcement Division told reporters that Atlantic City’s casinos may begin a “soft play” period on November 21st for invited players. If the trials are successful the public can begin gambling on the internet at 9 a.m. EDT November 26th. To play gamblers must be located in New Jersey. New Jersey is the third state to legalize internet gambling along with Nevada and Delaware.

Robert Griffin, CEO of Trump Entertainment Resorts, told reporters “I think this is going to be a significant revenue stream. It has the potential to make up 20 percent of our revenue.” Griffin said that New Jersey regulators have not yet explained how the guests invited to participate in the trial period are to be selected. He said it would have to be a significant number of players to test the casino’s system. Casino executives hope that internet gambling will give the struggling casinos a new revenue stream. Some fear that casino visitors will migrate to computers which could lead to job losses at casinos.

Revenues generated by Atlantic City casinos have fallen from a high of $5.2 billion in 2006 to $3 billion in 2012. Many believe that this year’s revenues will be lower. Thousands of casino jobs have been lost as gamblers choose to play closer to home in Pennsylvania, New York, and Maryland. New Jersey’s internet gambling regulations will go into effect on October 21st. Nine of Atlantic City’s 12 casinos have lined up internet gambling partners and rumor has it that a 10th casino has lined up a partner. The Tropicana Casino and Resort has partnered with Gamesys Limited, which runs the jackpotjoy.com website.The four casinos owned by Caesar’s; Caesars Atlantic City, Bally’s Atlantic City, Harrah’s Resorts Atlantic City and the Showboat Casino Hotel, have partnered with 888 Holdings.

The Borgata partnered with Bwin Party and the Resorts Casino Hotel has partnered with PokerStars which is currently the world’s largest poker site. The Taj Mahal Casino Resort has formed a partnership with Ultimate Gaming. Rumor has it that Trump has chosen Betfair as a partner. Revel Casino Hotel and The Atlantic Club Casino Hotel have not have not revealed their internet gambling plans.

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