Hart said she was very excited to once again be in New Jersey, the third state to allow online gambling but the first to limit it to state residents. She said it's always difficult to be the first, but New Jersey took a bold step and is now reaping the rewards.
By Hart's estimates, some 30,000 to 70,000 new online players have already given online gambling a try, a number which is increasing as awareness builds for the category. So far there is no cannibalization at any of the land-based casinos, Hart noted, and if trends follow that of Europe, land-based gambling will see a pickup as players get a taste online.
That said, Hart made it clear that IGT's land-based business will continue to drive the company's earnings for the foreseeable future. She said her company enjoys a 45% market share in that business and it will take a lot of states adopting online gambling before the Internet will move the needle for IGT.
IGT is also making lots of progress with its share repurchase program, Hart said. The company has already bought back nearly 15% of the company's shares outstanding. Cramer called IGT a pioneer in its sector and a stock to watch, especially given its new, lower valuation.
Am I Diversified?In the "Am I Diversified?" segment, Cramer spoke with callers and responded to tweets sent via Twitter to @JimCramer to see if investors' portfolios have what it takes for today's markets.
The first portfolio included Facebook (FB), Seagate (STX), Priceline.com (PCLN), Amazon.com and Google (GOOG). Cramer said this portfolio was not diversified and had far too many tech stocks. The second portfolio's top holdings included Hershey (HSY), JPMorgan Chase (JPM), Coca-Cola (KO), Verizon (VZ) and Kimco Realty Trust (KIM). Cramer said this portfolio cannot have both Hershey and Coca-Cola, so he advised selling Coke in favor of Bristol-Myers Squibb (BMY). The third portfolio had Dorman Products (DORM), Dunkin Brands (DNKN), Amazon.com, Johnson & Johnson (JNJ) and Home Depot as its top five stocks. Cramer once again identified two of a kind with Dorman and Home Depot. He suggested selling Dorman and adding an industrial like United Technologies (UTX) To watch replays of Cramer's video segments, visit the Mad Money page on CNBC. To sign up for Jim Cramer's free Booyah! newsletter with all of his latest articles and videos please click here. -- Written by Scott Rutt in Washington, D.C. To email Scott about this article, click here: Scott Rutt Follow Scott on Twitter @ScottRutt or get updates on Facebook, ScottRuttDC
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