As one of only three states to allow real money online gambling, New Jersey is now home to scores of casinos and gaming operators that have begun reassessing their marketing strategies and tactics for online gambling.
Boyd Gaming Corp., for example, is reducing advertising after a $3.2 million loss from the business in the company’s first fiscal quarter of 2014.
888 Holdings Plc has been compelled to make similar changes, shifting its advertising focus to slot machines and away from poker.
Last year, after NJ Governor Chris Christie signed legislation authorizing online gambling, the Garden State estimated raking in as much as $1 billion a year from online gambling. However, revenue is only a fraction of that.
Now six months removed from what some consider a disappointing start to online gambling in the state of New Jersey, some banks are now even refusing to process online gambling deposits.
“We are absolutely shocked by the slowness of the market,” Brian Mattingley, chief executive officer of London-based 888, tells Bloomberg. “The operators have not seen a positive response to their marketing campaigns… We’ve got to think again, the way we market.”
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