New Jersey gets 15th online casino after legalizing activity last year.
The Virgin Group is to launch an online casino in New Jersey Friday. The company received approval from the state several months ago to operate an online casino, but chose to take their time in launching one to work out technical problems and ensure customer satisfaction.
According to American gambling laws states are free to make their own regulations. In early 2013 the state of New Jersey voted to legalize online casinos and have approved 15 websites. Delaware is the only other state to do so, while Nevada recently legalized online poker rooms only.
Online gambling big business as Atlantic City declines
Estimated revenue for online casinos in New Jersey range anywhere from $200 to $500 in 2014. What is clear is that the activity is enjoying increasing popularity. Many gamblers either don’t have the means to travel to land-based casinos or prefer the convenience of playing from their bedroom or living room.
This has set off a huge debate within the gambling world, with many opponents of online casinos arguing that they cannibalize business from traditional brick-and-mortar establishments. Some, such as Vegas magnate Sheldon Adelson, blame it in part for Atlantic City’s drastic decline in revenue.
In contrast, executives from Caesar’s Entertainment, a competitor of Adelson’s Las Vegas Sands company and which has both online and land-based casinos, have asserted that the two markets are complimentary, not competitive.