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NEW JERSEY – A STEP CLOSER TO INTERNET GAMBLING LEGALISATION

Legislation setting the stage for legalised online gambling passes state Senate committee
 
A bill that could bring up to $350 million a year into New Jersey state coffers by legalising internet gambling in the state has advanced further, passing through the Senate Budget Committee Monday.
 
The bill offers the further advantage of replacing a $30-million annual subsidy currently given by land casinos in Atlantic City to state horse racing facilities on the theory that revenues from legalised online gambling would provide a substitute.
 
The proposal considers allowing not only home use of the internet for gambling, but also the setting up of internet gambling facilities in land casinos and at racetracks.
 
Although the proposal has a way to go yet and will be further debated, it will make New Jersey the first state in the U.S. to legalise online casino games if it is passed.
 
One of the prime movers of the bill, Sen. Ray Lesniak (see previous InfoPowa reports) claims that a new and more enlightened approach to internet gambling could bring up to $350 million a year into state coffers through taxation.
 
North Jersey.com reports that state governor Christie is not philosophically opposed to the bill, but that his attorneys were still reviewing whether it would be legal for the state to proceed.
 
State Sen. Jeff Van Drew called the amended bill “a good compromise” that could eliminate the horse racing industry’s purse woes while also boosting Atlantic City.

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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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