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Tuesday, 07 January 2014 07:18

Borgata President Comments on New Jersey’s First Month of Online Gaming

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Tom Ballance, the Borgata's President and COO, has given his initial thoughts on the introduction of online gambling in New Jersey – and so far, it looks like everything is positive.

Just a few weeks ago, New Jersey went live with online gambling, beginning with a five-day soft launch on the 21st of November. Online casino games, including poker, became available to New Jerseyites after online casinos scrambled to pair up with land-based casinos to offer an internet product.

Of the twelve land-based casinos in Atlantic City, seven signed deals to create an online casino. One of these was the Borgata Hotel Casino & Spa, and its President Tom Ballance gave an interview with CNBC's Squawk Box, commenting on the first month of online gaming in the Garden state.

In his opinion, it has gone extremely well, with more than 20,000 real-money accounts being opened with the Borgata's gaming sites. According to Ballance, reaping the benefits of the introduction of online gaming was mostly about choosing the correct partner and being prepared for the launch.

'Borgata was uniquely positioned to be at the forefront, primarily because of efforts by our managing partner, Boyd Gaming Corporation's strategy is to engage in online gaming nationwide. We weren't out hunting for a service provider, when others were. We were all set up and ready to go,' he explained.

Interestingly, Ballance said that the two forms of gambling service very different customers, with the majority of online account holders not having visited a casino in over a year. Despite earlier fears that online gaming would cannibalise the offline sector, Ballance said that the vast majority of account holders had made fewer than two trips in the past year.

He also reiterated the safety of online gambling, saying that there were many controls in place to regulate usage and credit extension.