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Excitement growing for Atlantic City Nj Gambling Bill
Posted by Lenny S on 12.12.10 - Unanimous approval of Lesniak bill could see an Assembly vote on Monday December 13
The continued progress of Senator Ray Lesniak's bill legalising online gambling in the state of New Jersey continues to generate excitement that the industry may be about to witness a major breakthrough...a US legalisation initiative at state level that may be followed by other state governments.
The bill has already been passed by the state Senate, and the unanimous approval of the bill by the Assembly Regulatory Oversight Committee on Friday clears the way for an Assembly vote, with political analysts indicating that the desire to get this done could see it on the Assembly floor as early as Monday December 13. Forty one votes are all that is needed to pass.
After that, only Governor Chris Christie's vote - and a 45 day deadline - stands in its way. Although concerned about the implications of the bill and its insistence on state's rights for passage, the governor has indicated that he has no "philosophical objections" to its intent.
Lesniak's Bill S490 will permit the land casinos in Atlantic City to offer online casino and poker games exclusively to residents of New Jersey, generating additional revenue streams and tax income for the state through a 20 percent of gross gaming revenues taxation provision.
The Interactive Media Entertainment and Gaming Association (iMEGA), has been closely involved in the drafting process of S490 and is on record as claiming that an intra-state internet gambling business could generate up to $250 million and $55 million in taxes on an annual basis. H2 Gambling Capital has also taken a bullish outlook, predicting that annual casino gross win of up to $290 million and poker gross win of $270 million could be achieved within five years.
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Mybet Earnings Struggle -
The statement this week reveals that Mybet continued to be hampered by negative trends from historic quarters, making its original performance estimate "unrealistic".
Tom Horn Awarded Malta Gaming License -
Online gambling software provider Tom Horn Gaming has been awarded a Malta Gaming Authority license that permits the company to host and manage Malta-based gaming operators.
Calvin Ayre invests in new Antigua Business Center -
Ayre joined with government officials this week in a ground-breaking ceremony for a five-story centre on Antigua which will be home for the venture. The "green" building will be solar powered and provide employee-friendly services like catering, a gym and child care.
Attack of the Zombies Slot -
Online gambling games developer Genesis Gaming has unveiled its latest game, with a theme based on a horror story of the undead, exploiting the current trend....and just in time for Halloween.
Why is FullFlush Poker Still Down -
Its now almost a month since Full Flush Poker went offline "for a platform upgrade" and stopped communicating with its reportedly many unpaid and unhappy players. All trace of the operator - and means to communicate with it - have vanished.
Time Running Our For Pennsylvanian online gambling -
Hopes that this week would see the Pennsylvanian Senate voting on an online gambling and DFS legalization bill already passed by the House four months ago dwindled Wednesday when no progress was made and the legislatures season officially closed.
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.
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