Last fall, the state of New Jersey was awarded the first official online gambling permit to Atlantic City’s Borgata.
But for Borgata, it’s been a bumpy road to online gambling revenue.
“Borgata’s online gambling operations recorded an operating loss of $1.8 million in the quarter ended June 30,” writes Harold Brubaker, a writer with the Philadelphia Inquirer.
On a brighter note, however, Brubaker adds that the company still managed to break even in July.
Keith Smith, chief executive of Borgata’s managing owner, Boyd Gaming Inc., is quoted in the same report explaining that the company’s rough summer for revenue should turn around when cooler weather comes back to New Jersey in the coming months.
Promisingly, Brubaker concludes, last quarter “Borgata’s share of online gaming revenues in New Jersey was 29 percent, even greater than its 23 percent share of brick-and-mortar gambling in Atlantic City.”
Join the Conversation