Online casino prime providers in the United Kingdom are rejoicing about the recent approval of online gambling in the state of New Jersey. These gambling operators are now keeping their eye on the market with excitement and a positive outlook. Some of them already have a deal in place with the brick and mortar casino owners in the Atlantic City where interactive gaming will be offered from. This includes the Bwin.Party Entertainment that has an existing deal with the MGM company. Bwin.Party’s share prices relatively increased following the announcement of Governor Christie’s approval of casino online in the state that includes table and card games, poker and slots.
The agreement between the two big companies will make them the prime candidate to supply online casino games to Atlantic City’s Borgata Hotel which is owned by MGM. Certainly, the market conditions are in favor of Bwin.Party. With this, its investors are all geared up to purchase stock from the company and have reinstated their buy recommendation on the group. Daniel Stewart investors’ Michael Campbell predicts that New Jersey can turn up to be a $450 million market. This is especially true if the Internet sports betting is approved and offered intrastate. Securing a position within this market could drive significant profits to prime online casino operators and technology providers. He further explained that the market should demand a high multiple for fully regulated and taxed earnings. Because NJ has now secured its online gambling regulation, the group is reinstating its buy recommendation.
Another online casino prime company 888.com also sees the state of NJ as a great venue for business expansion. According to the Morgan Stanley global finances firm, the UK based operator had its shares soar higher from 140p to 175p. Vaughn Lewis, who is an analyst from Morgan Stanley, says that casino online firms like Bwin.Party and 888 are the real big winners with a newly regulated and legalized online gambling market in New Jersey. It also led to the increase in their 2015 earnings per share forecast by 5 percent for Bwin.Party and 24 percent for 888. Lewis further explained that there will be more European operators who are going to jump in the online gambling bandwagon in New Jersey.