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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
