Borgata COO Discusses NJ Market with CNBC

Borgata COO Discusses NJ Market with CNBC Chief Operating Officer and President of Borgata Hotel Casino & Spa spoke to the "Squawk Box" program on CNBC this week regarding New Jersey online gambling operations and the lack of threat that the new market places on its land based market.

The company’s online gambling website has attracted 20,000 new accounts since its launch at the end of November 2013.

"Borgata was uniquely positioned to be at the forefront, primarily because of efforts by our managing partner, Boyd Gaming Corporation," Ballance said.

"Boyd's strategy is to engage in online gaming nationwide. We weren't out hunting for a service provider, when others were. We were all set up and ready to go."

In terms of the effects on online gambling on Borgata’s land based business, Ballance has this to say:

"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 has made fewer than two trips in the past year. So it's a different customer."

“There's also a different demographic for the online gambler. It skews more male than the conventional brick-and-mortar customer."

Ballance also addressed the effects of more accessibility to gambling with the US online market opening up.

"Online we actually have more controls. ... You don't extend credit online. You've got to fund your account somehow ... through your checking account or through a credit card."

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