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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 :

Interwetten 2016 Earnings Results - Privately-owned online sports betting operator Interwetten delivered robust full year results for the 2016 fiscal period, in which the company has almost achieved doubling its revenues over the past four years, success it attributes to its in-house developed platform

EU Online Gambling Tax Harmoney Dead - Tax expert says European Court of Justice Attorney General's opinion on UK-Gibraltar litigation signals that EU courts are happy for individual member states to impose their own laws on online gambling.

Jack Lam Facing Big Fines in the Philippines - It's going to be costly for Macau online gambling and junket tycoon Jack Lam to return to the Philippines following his rather hurried departure last year with allegations of economic sabotage, bribery and tax evasion swirling around him.

Walter Merricks Term As Gambing Commissioner Extended - The UK Government has extended Walter Merricks’ term as Commissioner of the Gambling Commission for a further year, ending December 31, 2017.

Loot’enKhamun Pays $3.8 Million Jackpot - A London-based construction worker’s year got off to a great start when he hit the Loot’enKhamun jackpot at bwin casino.

PlaySugarHouse To Carry Konami Content - Content provider Konami will provide its Gypsy Fire and Fortune Stacks slot games to Rush Street Interactive-operated PlaySugarHouse.com on an exclusive basis in the New Jersey real-money online and mobile wagering market.

ITF TERMINATES BETWAY SPONSORSHIP DEAL - The International Tennis Federation (ITF) has reportedly terminated Betway’s three-year sponsorship partnership as an extension to their anti-match fixing and sports integrity policy.

GSA To Launch European division - The expansion enables the GSA to better focus on the regional needs of its members outside of North America and underscores its recognition and commitment to growing European membership.

Paddy Power Trading Update - Company prevails despite adverse sports and US election results; Trump success cost the group GBP 5 million, whilst punter successes took another GBP 40 million in Q4-2016.

Tabcorp SunBets project - The details were revealed this week in an IT News article quoting Tabcorp's chief information officer, Kim Wenn, who described the SunBets project as Tabcorp's biggest global venture yet.

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