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Online Gambling To Give New Jersey 1.5 Billion
Friday January 25,2013 : MORE PRESSURE ON NEW JERSEY GOVERNOR
Respected analyst says that the introduction of online gambling could give Atlantic City a $1.5 billion boost
With the days counting down to February 4, by which time he has to sign a bill legalising intrastate online gambling, veto it or ignore it and see it pass automatically into law, New Jersey Governor Chris Christie was given some positive food for thought Thursday by a respected US analyst.
Wells Fargo Securities gaming expert Dennis Farrell Jr. issued a statement suggesting that the implementation of the online gambling legalisation bill currently awaiting only the governor's signature could throw Atlantic City's embattled land casinos a lifeline.
Farrell says that research results show that the online sector in the Garden State could reach $1.5 billion in revenues over the next five years - almost half that of the existing land gambling sector. Those revenues would generate worthwhile tax revenues, he opined.
The analyst discussed the potential of cross marketing by Atlantic City casinos offering online gambling from regulated and licensed servers on their premises, describing this as having the potential to create significant competitive advantages.
Still in New Jersey, on Thursday US District Court Judge Michael Shipp reacted to a request by interested parties to submit further written arguments on the New Jersey intention to introduce intrastate sports betting.
The requests were made in anticipation of the US Department of Justice's written arguments, which are due for submission to the court by February 1.
Last week the DoJ filed notice of its intention to join the action, supporting the sports leagues' attempt to prevent the state from going ahead with its plans, approved a year ago by the state legislature.
Judge Shipp granted motions allowing all litigants in the New Jersey sports betting suit until February 8 to respond to the federal filing. He has already set aside February 14 as the date on which he will hear oral arguments from the parties concerned
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Gambling News :
Yggdrasil Gaming Expanding -
The Swedish online gambling games developer Yggdrasil Gaming is to establish a new parent company and expand its Stockholm office as it bolsters its presence in Sweden with a raft of new hires.
FanDuel and DraftKings Settle With NY Attorney General -
Speculation earlier this week that daily fantasy sports market leaders FanDuel and DraftKings were about to agree a settlement on consumer fraud suits prepared by the New York AG was confirmed Tuesday when a $12 million settlement was announced.
Stan james Now Live With EPOS -
The company switched to the Optima server less system across its entire estate in July after previously using Optima EPOS technology. The switch was completed early this (October) month and has already delivered noteworthy savings for the company.
Singapore Online Gambling Ban Begins -
Singapore media reports indicated Tuesday that restricted online gambling services offered by the Singapore Pools have started online operations, whilst Singapore Turf Club will commence online betting activity on November 15.
Pennsylvania Online Gambling Updates -
Pro-online gambling companies, including the Golden Nugget in New Jersey and Pokerstars, were quick to refute Schippers views based on their operational experience.
WSOPE In Czech Republic -
World Series of Poker Europe 2017 has moved to King’s Casino Rozvadov (KCR) in the Czech Republic following a multi-year deal that will see KCR host numerous WSOP-branded events over the next several years.
BtoBet Partners with AfroBet -
Following the launch in Kenya, Afrobet said it has high hopes for further expansion into East Africa, Tanzania, Uganda and Congo.
Pissed off Tabcorp shareholders -
A significant number of Tabcorp shareholders, led by The Australian Shareholders Association, reportedly objected to proposed hikes in executive pay packages and were unhappy with the company plans for a merger with rival gambling group Tatts.
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