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New Jersey Wants Oversees Gambling Action

Friday November 22 ,2013 : NEW JERSEY LEGISLATOR WANTS FOREIGN ONLINE GAMBLING ACTION
 
Pro-internet gambling senator Lesniak proposes a new state law with wide implications.
 
The widespread speculation that New Jersey Senator Ray Lesniak's press conference Thursday would be about a new law allowing foreign online gambling companies to be licensed and regulated in New Jersey was pretty much on the mark.
 
In a morning press conference Senator Lesniak unveiled plans to introduce a bill in the state legislature that would open up New Jersey's nascent internet gaming market to online gambling fans around the world.
 
The Lesniak proposal seeks to authorise the New Jersey Division of Gaming Enforcement to grant licenses to companies offering online wagering and casino games to punters in foreign countries.
 
The payoff would be a 15 percent tax on their winnings, plus payments into a fund to raise $20 million a year for three years for New Jersey's struggling horse racing industry.
 
Sen. Lesniak said foreign companies could set up servers in New Jersey but would have to exclude American players in terms of current laws.
 
He claimed that many overseas gambling companies are eager to submit to New Jersey's regulations and receive the stamp of approval for their operations that such oversight would confer.
 
"This could make New Jersey the leader in online gaming," Lesniak told media representatives. "We are well-positioned to take advantage of a dynamic opportunity to be at the hub of a new business sector with the potential for economic growth and job creation.
 
"Internet gaming is a worldwide industry. There's no reason why we shouldn't be a part of it."
 
Current state laws on online gambling confine the activity within the borders of the Garden State, with operators based at land casinos in Atlantic City.
 
Under the Lesniak bill, the state's new internet regulatory program would be extended to foreign countries outside the borders of the United States, conditional on those countries reaching regulatory agreements with the state of New Jersey.
 
The DGE would enforce the regulations to ensure compliance with the state's high standards.
 
Adam Ozimek, a senior economist and director of research at Philadelphia-based Econsult Solutions, supported Lesniak's initiative, saying that it has the potential to add between 4,700 and 7,900 new jobs and generate $2.2 billion to $3.8 billion in fresh revenue.
 
Lesniak told the Associated Press news agency that he didn't know if New Jersey governor Chris Christie would support the initiative, and observed that while the federal Department of Justice should have no problem with it in jurisdictional terms, he imagined the World Trade Organisation might....a reference to the United States' long-running dispute with Antigua and Barbuda over America's discriminatory bans on online gambling.
 
The New Jersey senator dismissed recent reports on land casino magnate Sheldon Adelson's well-funded bid to ban online gambling at federal level (see previous InfoPowa reports), saying the casino owner's views on the subject were of little interest to him.
 
He also observed that the US National Football League had expanded its franchise to the United Kingdom, where it hosts several games a year, and compared this to his own initiative; in effect saying what was good for the goose is good for the gander.

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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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