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Chris Christie Signs New Jersey Online Gambling Bill
Tuesday February 26,2013 : NEW JERSEY LAWMAKERS APPROVE AMENDED ONLINE GAMBLING BILL
Live Update : 3pm Est, 2/26/2013 : Breaking news from New Jersey is that Gov. Christie wasted no time in signing the amended measure into state law Tuesday.
Bill goes back to Governor Chris Christie
New Jersey lawmakers in both the state Assembly and the Senate showed that they are serious about online gambling Tuesday when they approved an amended bill rushed through the Legislature to comply with Governor Chris Christie’s requirements following his February 7 conditional veto.
The measure is now back on the governor's desk, with industry observers expecting an early signature as indicated earlier by Christie.
Once signed into law the Garden State will become the third US state to legalise online gambling and/or poker after Nevada and Delaware.
Online gambling in New Jersey could be a $1.5 billion annual business in five years, Dennis Farrell, a casino analyst at Wells Fargo Securities, said in an investor note January 24.
Borgata Hotel Casino & Spa, a joint venture between Boyd Gaming Corp. and MGM Resorts International, and Caesars Entertainment Corp. are the companies best positioned to capture online business in New Jersey, Farrell told New Jersey.com Tuesday.
The New Jersey intrastate bill will see Atlantic City land operators (and possibly internet partners) holding an advantage granted by the bill's provision that online gambling servers must be confined to AC land casinos. The bill also allows for interstate compacts with other states where internet gambling has been legalised.
State Senator Ray Lesniak, who has driven the legalisation process in New Jersey over the past three or more years, said that the first online bets taken under the new law should be wagered by September this year.
“Finally, some good news for Atlantic City's future," said Lesniak. "Internet gaming will give an immediate boost to the outlook for Atlantic City's future, preventing the closing of at least one casino, and saving thousands of jobs. Now we can get to work making Atlantic City the Silicon Valley of Internet gaming by being the hub for other states to join."
The ball is now in the state gaming regulators' court as they develop an appropriate set of regulations governing the operations of online gambling in the state.
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Gambling News :
Phil Ivey Loses Borgata Casino -
Phil Ivey has lost in his four-year legal tussle with the Borgata over baccarat winnings; on Friday a US federal judge ruled that he and a companion violated New Jersey state gambling regulations in the manner in which they won nearly $10 million playing at the Atlantic City casino.
NYX Gaming in deal with Endemol -
"Endemol Shine’s IP will be a strong addition to the NYX portfolio of content and we look forward to working together to bring additional instantly recognizable brands to market.”
NEW CAMBODIAN GAMBLING LAWS -
After more than two years of debate and drafting, Cambodia may be closing in on final agreement regarding its proposed gambling law changes.
Playtech Acquires ECM Systems -
Online gambling soiftware provider Playtech plc has announced the acquisition of a ninety percent stake in UK bingo software developer ECM Systems for a consideration of GBP 14.9 million.
Marks and Spencer store Manager steals to Gamblie Online -
The Cambridge News reports that a 28-year-old manager of a Marks and Spencer store, Martin Trenor, has been jailed for three years for stealing GBP 254,538.11 in shop takings over the course of a year and spending it almost immediately at online gambling websites.
Chinese Gambling crackdown could damage high roller revenue -
Fast-moving events this week have seen Australian media reports quoting hundreds of millions of dollars wagered by Chinese high rollers in Aussie land casinos, offset to some extent by Crown claims that this whale gambler" demographic generates only 12 percent of turnover.
EvenBet Open Face Chinese Poker -
Open Face Chinese Poker online games provider EvenBet has reported that its Open Face Chinese Poker product is gaining traction with games recently integrated for desktop action at the Malta-licensed operational site Poker Grant.
2016 EPT Malta -
The European Poker Tour is off to a good start in Malta, with German pro Dietrich Fast claiming a well-earned Euro 174,000 main prize in the Euro 10,000 buy-in Single-Entry Rebuy event.
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