Analysts bullish on Internet gambling for Atlantic City
ATLANTIC CITY — The folks who write the checks that help keep Atlantic City’s casinos afloat say Internet gambling can help revive the market’s flagging fortunes.
Speaking at The East Coast Gaming Congress on Wednesday, a panel of Wall Street analysts said the investment community views Internet gambling as a way to finally end the city’s seven-year losing streak.
The state plans to offer online bets by the end of the year.
“I’m probably one of the more bullish people on this,” said David Berman, senior managing director of Macquarie Capital. “It’s a big boon for Atlantic City and New Jersey.”
Online games will mark the biggest expansion of gambling in New Jersey since the state’s first casino opened in 1978.
“That’s where the big savior can come from,” said Robert Heller, president of Spectrum Gaming Capital.
New Jersey is one of three states to legalize Internet gambling, along with Nevada and Delaware.
New Jersey last week issued regulations on how online games are to be carried out.
