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OPERATORS FINDING IT HARD TO PROFIT IN DELAWARE
14th July, 2014 at 09:19:11
Slow start to online gambling makes for disappointing results.
Delaware's relatively new online gambling legalisation regulations stipulate that the state gets all of the first $3.75 million in revenue each operator generates, making it hard to prosper in a market that is currently delivering dismal results below initial expectations.
The latest figures from the First State show that online gambling has fallen well short of its target of $5 million in revenue during its first fiscal year.
The venture brought in little cash for the state and none for Delaware's land casinos which have online operations, according to local media reports.
Since launch last November, online gambling has brought in $1.2 million, and the state's return from startup and vendor fees came to a mere $318,000.
Officials told the Associated Press news agency that the projection for fiscal year 2015 calls for $3.3 million in online gaming revenue....still not enough for casinos to make money.
Related News Tags: Land Casinos
NEW LOBBY GROUP EMERGES IN PENNSYLVANIA
16th January, 2017 at 06:55:26
The Pennsylvania Video Gaming Association will lobby for the legalisation of an "already-present industry...but not for online gambling.
ATLANTIC CITY - 2016 A GOOD YEAR FOR INTERNET GAMBLING
12th January, 2017 at 21:53:36
New Jersey regulator releases FY 2016 results, showing that online gambling revenue grew 32 percent year-on-year.
PENNSYLVANIAN ONLINE GAMBLING LEGALISATION BILL ALREADY UNDER FIRE (Update)
11th January, 2017 at 09:58:19
Democratic state Senator Jay Costa's proposal criticised by Republican senator.
NEVADA GAMBLING REVENUE DOWN 1.5 PERCENT IN NOVEMBER
29th December, 2016 at 16:24:09
Las Vegas land casinos suffer business declines.
PENNSYLVANIA POLITICAL AND GAMING CHIEFS TO GATHER
28th December, 2016 at 06:56:07
January 3rd meeting to discuss the budget gap.