The numbers haven’t been made official just yet, but Forbes did estimate that New Jersey’s sports betting revenue would skyrocket to upwards of $250 million for the month of September.
Seeing that kind of activity will naturally make more states want to follow suit by legalizing sports gambling as well. But when Jersey has had the kind of success it has thus far, should it be concerned with neighboring or nearby states also legalizing sports betting? Or is it the more, the merrier, when it comes to the booming market? If you are a New Jersey resident you can get up to $250 in bonus cash by signing up with SugarHouse right now.
Well, Pennsylvania is currently listed in the “on-deck circle” on ESPN’s “State-by-state sports betting bill tracker” as the next state to possibly legalize sports gambling.
As of now, it seemingly depends who’s asked in Atlantic City about the imminent action regarding Pennsylvania and sports betting.
“Pennsylvania, particularly eastern Pennsylvania, represents an important market for Atlantic City,” Michael Pollock, a managing director for the consulting/research firm, Spectrum Gaming Group, told PressofAtlanticCity.com on Monday. “But I don’t think it will have a material impact on visitation (to the resort).”
While Pollock doesn’t seem overly concerned, one former Atlantic City casino exec is.
“Atlantic City stands to lose their Philadelphia sports betting customers, which will affect sports betting revenues, casino win and other revenues, primarily food and beverage,” Steve Norton told PressofAtlanticCity.com. “And Atlantic City could also lose a lot of South Jersey play, as a meaningful percent of South Jersey residents are closer to casinos in Pennsylvania and Delaware.”
Or it could create a situation where both Atlantic City and Pennsylvania revel in the booming market.
The PressofAtlanticCity.com pointed to an American Gaming Association estimate about the sports betting industry possibly generating a yearly revenue of $25 billion-plus in the U.S. as the market continues to flourish.
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