Sports betting to boost New Jersey’s economy
According to some experts, the segment will drive tourism into the city, in addition to improving casino operators’ revenues.
US.- The sports betting segment is already up and running in New Jersey and is set to improve casino operators’ revenue in the state. However, experts believe that the newly introduced business will also boost the area’s economy in other ways related to gambling.
“Sports betting is definitely going to drive additional traffic into the city,” executive director of the Lloyd D. Levenson Institute of Gaming, Hospitality and Tourism at Stockton University Rummy Pandit said and added: “Online sports betting will not just drive sports betting revenue, it’s going to drive revenue to brick-and-mortars through rooms, food and beverage, entertainment and shows.”
Public relations consultant and former Atlantic City casino executive Wayne Schaffel denied a potential advantage for New Jersey over other states after legalising the segment first but projected benefits for Atlantic City: “Sponsor, sign exclusive deals or just go out and buy something that will have a monopoly in Atlantic City,” he said. “That’s a winning bet.”
According to Steve Ruddock, lead analyst for PlayNJ.com, an online gaming advocacy group, the industry has learned from the 2013 sports betting experience and is set to link it with other offerings in Atlantic City through its rewards: “There’s a symbiotic relationship between the two. If you asked most operators, they would tell you they’ve been pleasantly surprised by how well they’ve interacted and how beneficial online has been. Sports betting will have the same type of impact. If you can link your online sports book to your land-based sports books, then you can possibly bring in these newer, younger customers.”
