“A Wall Street credit rating firm that was among the most pessimistic about the prospects for Internet gambling in New Jersey has cut its already-conservative estimate on the state’s first-year online winnings by more than half…
Tuesday’s move by Fitch Ratings comes a day after New Jersey reported a third straight monthly decline in the amount of money won by the state’s Internet betting operations, partnered with Atlantic City casinos.”
For all practical purposes, online gambling is nothing but a video lottery terminal (VLT) in every home.
Lotteries in the U.S. were considering VLTs as early as 1981, when a planned experiment with 20 machines by the New York State Lottery was scrapped after the Attorney General determined they would be illegal. A similar plan by the New Jersey Lottery died in 1983 after ties between state officials and VLT manufacturers raised conflict of interest concerns. Of course, this is history…
Pretty please, somebody explain to me how the VLT tourism would positively impact the local economy when even gambling in the comfort of our own homes is not living up to the expectations.
– Jon Dogar-Marinesco