That’s after the company announced yesterday they had secured the necessary approvals from the New Jersey Division of Gaming Enforcement.
New Jersey’s online casino presents both challenge and opportunity for Resorts.
Let’s start with the good news:
And then the bad:
On balance, Resorts and its online partner SNG Interactive should expect $5-$7mm in revenue for 2015 (assuming February launch).
You can make a bull case closer to $10mm if payments improve dramatically and PokerStars launches by mid-year.
View complete historical revenue data by operator here.
That partnership was first announced in June 2014.
As for the product:
You can read more about the platform in a presser here.
Resorts’ online launch is casino only, with no online poker product planned.
New Jersey online gambling regulations allow casinos to partner with multiple brands and platform providers. Resorts is separately partnered with PokerStars in NJ and will bring online poker to market under that relationship – if and when PokerStars clears the necessary regulatory hurdles (more on that below).
PokerStars oft-delayed entry into the New Jersey market has been the subject of increased discussion as of late thanks to a series of reports alleging ties between said delays and Gov. Chris Christie.
Resorts has had little to say on the matter over the last few months.
But a successful launch of a PokerStars NJ online poker site – especially if accompanied by a Stars-branded live poker room at Resorts – could combine with the Resorts online casino product to generate a valuable stream of revenue (and profits) for Atlantic City’s oldest casino.
Interestingly, Resorts’ online casino partner NYX Gaming has a close corporate relationship with Amaya, who acquired PokerStars in August 2014.