NJ Overstated Gambling Revenue Forecast, Fitch Group Says

Law360, New York (November 27, 2013, 4:43 PM EST) -- Credit rating agency Fitch Group estimated New Jersey's gambling revenues to hover around $200 million to $300 million, a fraction of Gov. Chris Christie's projections of $1.2 billion, Fitch said Tuesday.

Despite the fact that New Jersey's growing online gambling offerings make it the "most significant state" to launch such a business model, the state won't turn around Atlantic City's fortunes, which languished from depressed gaming and Superstorm Sandy damage. The best New Jersey currently can do is ramp up its gambling proceeds to $500 million...
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