Morgan Stanley has just announced that they have lowered their first full year estimate of NJ online gambling revenue from 541 Million to 203 Million.
They also stated that they believe the month over month growth will be in the 10% range as opposed to the 20% they predicted earlier in 2012.
As I have been saying all along, the estimates by Gov. Christie and the Wall Street analysts were much to optimistic and I continue to stick to my prediction that the revenues from NJ online gambling will not exceed 160 Million for the first full year.
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