Chris Christies administration admitted Tuesday it vegas strip casino bonus had overplayed its hand on online gambling, drastically overestimating the amount the state would bring in during the first year.
Related coverage, christie's new NJ budget:.4B spending plan tackles pension payments but not tax cut.The casinos won.4 million in December and.5 million in January.The casinos made less than 3 billion last year for the first time in 22 years.Four casinos closed in Atlantic City last year.Caesars posted the steepest decline.6 percent in August compared to the same month last year, followed by Trump Taj Mahal.2 percent."Its going to be very interesting to see how it plays out."."That is a positive he said.State Treasurer Andrew Sidamon-Eristoff later cut Christies estimated increase to 160 million.As casinos, partners plan marketing blitz.And next year wont be much better online casino bonus juegos de casino either with the budget Christie unveiled Tuesday a 55 million increase in casino revenue.The NJ Office of Homeland Security and Preparedness relies heavily on the public to report any and all suspicious activity.That data shows an overall increase.2 percent among the eight remaining casinos.
But Tuesday he conceded even that was far too high, and now expected just a 34 million rise in casino tax revenue for the fiscal year that ends June.
Year to date, industry revenue has fallen by roughly 10 percent.
Raymond Lesniak (D-Union the Legislatures prime supporter of internet betting, said he always thought the governors projections were too ambitious.You can anonymously report suspicious activity by calling the State's, 24-hour toll free tip line 1-866-4-safe-NJ.Find m on Facebook.Golden Nugget led the pack with a 27.8 percent increase in gaming revenues.Officials noted that while all of Labor Day Weekend fell in September this year, most of the busy holiday weekend fell in August in 2014.Remember, our best defense against terrorism is YOU.Christie had proposed a spending plan last year that anticipated a 200 million increase in tax revenue from the casinos, almost all of it from the legalization of internet betting that began in November.Erin O'Neill may be reached.There have been some bugs with technology, which was designed to ensure players are in New Jersey, and with payment processing.He said he remained "bullish" on internet betting in the future, "but clearly this hasnt met our expectations for the first fiscal year.".
"The governor just ignored those sensible economic thoughts Lesniak said.
Gambling analysts had far lower expectations than Christie, and some have said they found the start to internet betting to be rather slow.