Online Gambling Slump Adds to Christie’s N.J. Budget Woes
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Flagging online gambling is failing to bolster Atlantic City casinos that Governor Chris Christie has said are crucial to New Jersey’s rebound, compounding revenue shortfalls that threaten the state’s credit rating.
Five months after New Jersey started allowing Internet betting, the business had its first monthly revenue decline in April. The drop adds to the woes of the 11 casinos, whose revenue has dropped 44 percent since peaking in 2006. New Jersey depends on Atlantic City for its jobs, its taxes and the seaside resort area’s draw as a tourist destination.