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Atlantic City Wants More Gambling
1/15/10 - Industry observers are currently studying the implications of a legislative move in the state of New Jersey that appears to be a response to the increasing competitiveness of neighbouring states like Pennsyvania, which has recently expanded its gambling.
Information surfacing this week is that a proposed new law has been introduced by New Jersey Senator Raymond Lesniak that seeks to not only broaden the Atlantic City offering by adding sportsbetting, but legalise online gambling...providing it is confined to the premises of land casino licensees.
Although confirmation was not forthcoming as we went to press this week, it is understood that the Interactive Media Entertainment & Gaming Association has been assisting Senator Lesniak with the drafting of the proposed bill.
The draft appears to go beyond the use of eDeck-style remote gambling on US casino premises, and states:
"An Act permitting Internet wagering at Atlantic City casinos under certain circumstances and amending and supplementing the "Casino Control Act", P.L.1977, c.110 (C.5:12-1 et seq.).
"If approved by the voters at a referendum held at the next general election, this bill would allow licensed casinos in Atlantic City to conduct in-person wagering, and wagering through an account wagering system, on professional and collegiate sport or athletic events under regulation by the New Jersey Casino Control Commission.
"Wagering on sports events, as defined by this bill, would not include wagering on any amateur non-collegiate sport or athletic event, or any event, regardless of where it is held, involving a professional or collegiate team whose home field, court, or base is in New Jersey, or any event played in New Jersey involving a professional or collegiate team.
"Wagers on a sports event could only be placed in-person in a casino sports wagering lounge, or through an account wagering system available only to registered State residents.
"Sports wagering gross revenue would be subject to the existing 8 percent casino gross revenue tax, the proceeds of which are dedicated to programs for senior citizens and disabled residents, and the investment alternative tax, which results in the investment of 1.25 percent of gaming revenue in community and economic development projects across the State."
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