Tom Balance, COO and president of the Borgata Hotel Casino in Atlantic City, has said that the flourishing online gaming industry in New Jersey is not threatening the company’s bricks-and-mortar business.
In an interview with CNBC’s Squawk Box, Ballance said the Borgata’s gaming sites have created more than 20,000 real-money gaming accounts, exceeding expectations.
"Borgata was uniquely positioned to be at the forefront, primarily because of efforts by our managing partner, Boyd Gaming Corporation. Boyd's strategy is to engage in online gaming nationwide," said Ballance.
"We weren't out hunting for a service provider, when others were. We were all set up and ready to go."
Ballance told Squawk Box that Borgata's online and land-based operations are servicing differing demographics: "When we match up databases, the great majority of players who were playing online have not been to Borgata in well over a year.
“And the vast majority have made fewer than two trips in the past year. So it's a different customer."
