Online gaming revenue could hit USD 1.8 billion

"We still think that online gaming will ultimately grow into a meaningful driver of revenues in New Jersey,” McGill said. “But it will take some time to see it ramp.”

McGill believes that annual revenues can fall “on the high side” of the us$ 200 million to us $1.8 billion estimates.

As for Delaware, where online websites are run by horse tracks and in conjunction with the state lottery, McGill isn't as bullish. “There was little promotion or information unless you went to one of the track’s sites," he said. “You could not find any information initially at the actual casino in the track.”

He believes that online gaming could be a "significant catalyst" for Boyd Gaming Corp., the operators of the Borgata Hotel Casino & Spa. McGill says that the Borgata could represent up to 20 percent of the Garden State's online gaming market.