New Jersey Moves to Extend Online Gambling for Ten More Years
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The success of online gambling in New Jersey has been immense, and the state has moved to build on that by passing legislation allowing it to continue unimpeded for the next ten years.
Internet gambling came into force in the state in 2013 for a ten-year period that is set to expire in November, hence the need to extend the legislation further to protect the interests of the providers in the region, as well as the players who enjoy the pastime.
Revenue from online and offline gambling in the state reached $457 million for June, and that represents a 14% increase on the same month last year, though it is still a little short of the pre-pandemic levels.
Nonetheless, online casino action in NJ is fit and healthy and shows no sign of abating, hence the desire to get another ten years on the clock.
The blend of online and offline gambling avenues is one that is working well in New Jersey, as mentioned by James Plousis, Chair of the N.J.C.C.C (New Jersey Casino Control Commission).
“Gains in all three reported areas — casino win, internet gaming win, and sports wagering revenue — demonstrate that online and traditional gaming are a winning combination,” he was quoted as saying by The Associated Press.
Moves to push through the ten-year extension should be a formality, and according to the bill sponsor, Sen. Vince Polistina, R-Atlantic, the original legislation proved crucial to the rebirth of the casino industry after the 2008 recession.
"The legalization of online gambling and sports betting was a catalyst for struggling casinos in the aftermath of the Great Recession," Polistina said in a statement released by his office. "In places like Atlantic City, internet gaming has created a number of good paying jobs for workers as well as generating millions of dollars in tax revenues for the state."
The ongoing success of online casinos has been the lifeblood of that upturn in fortunes for the gambling industry, as commented by Hilary Chebra, the manager of government relations for the Chamber of Commerce of Southern New Jersey.
"We believe this has been just a huge help to the casinos, particularly during the pandemic," Chebra was quoted as saying by The Associated Press.
"These gaming websites have been a huge asset to the region, particularly in South Jersey.”
Online casino activity is now legal in six states, New Jersey, Connecticut, Delaware, Michigan, Pennsylvania, and West Virginia. Land-based casinos are legal in many more regions, and online sports betting is expanding across many territories, with the legalization in New York last year proving a massive success.
Mark Giannantonio, the president of the Resorts Casino Hotel as well as the Casino Association of New Jersey, believes the passing of the legislation is crucial to the region.
“The reauthorization of the internet gaming bill for 10 years is vital to the continued success of the gaming industry in New Jersey and the programs that are supported by the taxes collected,” The Associated Press quoted him as saying.
“This will also provide investor confidence in the New Jersey internet gaming industry.”
If you or anyone you know has a gambling problem, call 1-800-GAMBLER.
