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SVL testing mobile betting app, as BGLC tackles online gaming regulations
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Revel Casino Hotel and The Atlantic Club Casino Hotel have not divulged their online gambling plans. Atlantic City’s casino revenue has plunged from a high of US$5.2 billion in 2006 to a little more than US$3 billion last year and could dip below that mark by the end of this year. Thousands of casino jobs have been lost already as many gamblers choose options closer to their homes in Pennsylvania, New York and Maryland. Online gambling is designed to give the struggling casinos new revenue, though some worry the in-person business will simply migrate to computers, leading to casino job losses. The state is preparing for the launch of online gambling in New Jersey, which will begin November 26 after a five-day invitation-only test period to make sure all the systems work properly. “SVL has adopted mobile money, which provides an automatic audit trail for each bet and returns the role of KYC and source of funds monitoring to the banks,” the technology provider said.
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He said Supreme Ventures took those issues into account for its betting service. SVL, as the largest operator, took in $56 billion in annual revenue in 2017. At last report, industry revenue topped $135 billion in fiscal 2016, while $5.7 billion flowed to the Government.
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