Exec Says Online Gambling Won’t Hurt Land-Based Casino Revenue

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Exec Says Online Gambling Won't Hurt Land-Based Casino RevenueIt’s a criticism the online gambling world continues to confront. If allowed to persist, the growth of the online gambling industry will cannibalize land-based casino revenue.

But not everyone believes in the validity of that assertion. Keith Smith, President and Chief Executive Officer of Boyd Gaming, is among them.

“These results also once again demonstrate online gaming’s potential to expand our business,” Smith said during Boyd Gaming Corporation’s announcement of results from Borgata’s online gaming operations in the month of January 2014.

“About 85 percent of our online players have not had rated play at Borgata in at least two years, showing there is little overlap with our land-based business,” he adds. “Online gaming is growing our database, creating a long-term opportunity to market Borgata to an entirely new group of customers.”

According to the same report, when viewed in totality, Borgata and partypoker generated $3.9 million in online gaming revenue, giving the network a market-leading 41% total share of New Jersey’s online gaming business in January.

Borgata accounted for $2.7 million in revenue last month, a 15% increase over December 2013.

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