Borgata posts quarterly loss in online gambling

Borgata's online gambling operations recorded an operating loss of $1.8 million in the quarter ended June 30, but reached a "key milestone" by breaking even in July, said Keith Smith, chief executive of Borgata's managing owner, Boyd Gaming Inc.

Smith said during a conference call on the Las Vegas company's second quarter earnings that he expected the recent downturn in online gambling revenue in New Jersey to end when cooler weather returns.

Borgata's share of online gaming revenues in New Jersey was 29 percent, even greater than its 23 percent share of brick-and-mortar gambling in Atlantic City, the company said.