Borgata Posts Quarterly Loss for Online Poker in New Jersey

Written by:
Ace King
Published on:
Aug/01/2014
Borgata Posts Quarterly Loss for Online Poker in New Jersey

The Borgata Hotel and Casino in Atlantic City, partnered with bwin.party, has posted a quarterly operating loss of $1.8 million for the period of June 30.

It did, however, reach a “key milestone” by breaking even during the month of July.

The Borgata and bwin.party were widely seen as having gotten off to the strongest start in the newly opened New Jersey online gambling market through aggressive ad campaigns.  Ongoing payment processing issues, particularly with a high credit card decline rate, have stymied growth since that time. 

The Borgata, which is owned by Boyd Gaming, enjoys a 29% share in the state’s Web gambling market, even greater than the 23% share of its Atlantic City brick and mortar business.

A recent downturn in online gambling could be attributed to the warmer weather, Boyd Gaming suggests. 

- Ace King, Gambling911.com

Gambling News

MGM National Harbor Celebrates the Year of the Rooster

MGM National Harbor Celebrates the Year of the Rooster

MGM National Harbor, the region’s hottest new destination resort casino, is celebrating Lunar New Year with festive entertainment, a vibrant Conservatory display and authentic culinary specials.

Western Union Fined $586 million for Colluding With Organized Crime

Western Union Fined $586 million for Colluding With Organized Crime

The popular money transfer service Western Union has been fined $586 million for allegedly colluding with organized criminal elements in an effort to circumvent money laundering laws.

Three Casinos Fight for Adele With Potential of £400,000 a Night Payout

Three Casinos Fight for Adele With Potential of £400,000 a Night Payout

Recording artist Adele is being courted by three big Vegas Strip casinos: MGM, the Venetian and Caesars Resorts with what is being called the “biggest deals ever put together”. 

Naked Man Gunned Down at Casino Identified

Naked Man Gunned Down at Casino Identified

Authorities are identifying a 57-year-old Arizona man who died and the Las Vegas police officer who shot him

Skin in the Game Looks at How Counter-Strike Spawned Multi-Billion Dollar Gambling Sector

ESPN.com featured an excellent piece on how Counter-Strike helped to create a multibillion-dollar world of online casino gambling

Syndicate