New Jersey Governor Christie Backs Away From Online Gambling Forecast
New Jersey Governor Chris Christie’s aggressive forecast for online gambling revenue was mostly seen as unattainable. On Tuesday, the Christie Administration backed off those initial projections, relaying its concerns to a leading Democratic leader in the state.
"Given the complex connections between internet and on-site gaming, we do not break down the anticipated total collections between the two sources," state Treasurer Andrew Sidamon-Eristoff wrote in a letter today to Sen. Paul Sarlo (D-Bergen).
Christie had previously predicted that online gambling would result in tax revenues of $180 million in its first year. The governor has had to lower his revenue forecast for the first year of online betting by more than $100 million.
The growth of New Jersey's Internet gambling market slowed somewhat in its third full month of operation, with the Atlantic City gambling websites posting a nearly 9 percent revenue increase in February.
The 16 online gambling sites had posted a 28 percent gain in January, to $9.5 million. In February, the online sites won $10.3 million.
The numbers released Wednesday by the state Division of Gaming Enforcement show the market starting to plateau.
- Gilbert Horowitz, Gambling911.com
