New Jersey State Senator Raymond Lesniak has hit out at credit card companies and accused them of stalling the progress of the US state’s online gambling industry.
Speaking via Skype at the Mobile and Tablet Gambling Summit USA, Lesniak said the lack of support from major credit card companies in the US has meant that the state has been unable to hit its early revenue targets.
Prior to the legalisation of online gambling in the state, Lesniak and other lawmakers said revenue generated from such online activity could exceed $1 billion (€785.2 million).
However, with next month marking the one-year anniversary since online gambling became legalised in the state, New Jersey operators are reporting just over $100 million in revenue.
Despite criticism from industry experts and analysts over the early revenue predictions, Lesniak said such targets are unlikely to be reached without the support of major financial institutions, many of which still refuse to process online gambling payments.
“Don’t expect stellar results until the major credit card companies come on board,” Lesniak.
Despite calls to regulate online gambling in other states, just three US states have so far opted to legalise the practice, with Nevada and Delaware being the two other jurisdictions to have done so alongside New Jersey.
source : www.igamingbusiness.com