New Jersey’s official projections for online gambling revenue are drawing fire from multiple corners.
I wrote a few weeks ago about how far off the mark the projections contained within Christie’s budget were (as did several others before and after me).
And now that criticism is gaining traction in Trenton.
As the Star-Ledger reported yesterday, State Treasurer Andrew Sidamon-Eristoff received an incredulous response when he repeated the official claim that New Jersey will pocket $180mm in online gambling revenue within fiscal year 2014 (starting in July).
“Quite frankly, the number is bogus,” was the Star Ledger’s quoted reaction from Senate Budget Chairman Paul Sarlo (D-Bergen).
That response seems appropriate to me. Like others, I have a hard time seeing how New Jersey is going to do much better than $30mm in the first fiscal year.
And the fact that PokerStars is shut out of New Jersey – for now – is going to make hitting even that substantially lower number an even tougher task.
Sarlo’s disbelief was echoed by David Rosen, head of the NJ Office of Legislative Services, who also suggested $30mm as a more reasonable – but still “optimistic” – target for year one.