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New Jersey Online Gambling Bill Makes it out of Committee

6/3/10 - In what could prove to be an important breakthrough in US intrastate online gambling regulation, New Jersey state senators Thursday released a bill from committee that would allow casinos to build online websites for poker, blackjack and other games.
Members of the Internet-gaming business lobby hailed the legislation as a significant step forward for New Jersey to establish itself as the first state to allow full Internet gaming within its state jurisdiction.
The day started with the state’s Senate Wagering and Tourism committee hearing testimony on a bill that would allow online betting on poker and casino games. Legislators were told that allowing embattled Atlantic City land casino operators to create online sites would provide at least $200 million in additional state revenue and bring an estimated 1 500 high-tech jobs to south Jersey.
However, opponents, mainly from the horse racing industry which already has federal exemptions to operate online wagering, said that New Jersey's battered horse racing industry would take another hit if forced to compete with online wagering from the casinos.
Horseracing supporters were also less than pleased when senators removed a provision to allow "gaming rooms" at racetrack venues where customers could get online to gamble.
Cash strapped US states – especially Florida and California - are showing growing interest in the possibilities of regulated internet gambling, citing the autonomy of individual states that allows them to decide on intrastate issues.
Under the bill discussed at the hearing, New Jersey would allow an intrastate online gambling network, relying on high-tech online software to allow customers within New Jersey's borders to access the land casino-run online websites.
At the close of the hearing, Senators on the committee approved the bill by 3 votes to 1.
The bill's sponsor, Democratic Senator Ray Lesniak, argues that federal law has given New Jersey a window to try an intrastate approach to developing an online-gaming business model.
Representatives of the Interactive Media Entertainment and Gaming Association, which supports the proposal, said the bill could bring between $210 million and $250 million in annual gross gaming yield to casinos and between $47 million and $55 million in new state revenues. Still greater revenues could be created if New Jersey succeeds in attracting Internet gaming companies to headquarter in the state.
"The state would benefit by being a 'first mover,'" said iMega chairman Joe Brennan Jr.
The existing casino industry, combined with the space and workforce available around Atlantic City to create centers of technical support and data storage to the new industry, all within reach of Wall Street investment firms, give the city a strategic advantage over other states, he pointed out.
"New Jersey will be able to position itself as the national and potential global capital of the next gaming industry," he added.

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Gambling News :

Wanajump Launches - #Wanajump Spanish online and land gambling operator Grupo R. Franco appears to be emulating the William Hill group, announcing this week that it is to begin a start-up accelerator program for innovative entrepreneurs, which it has titled Wanajump.

Coral Launches player proposition betting product - Digital Sports Tech, a business-to-business software provider of sports betting solutions, has signed a deal with UK online and land sports betting operator Coral to provide an innovative player proposition betting product.

Oshi online casino now accepts fiat currencies - The Oshi online casino, which started just a year ago as a Bitcoin-denominated operation, has described its expanded activity in a statement this week, noting that in addition to Bitcoin it now accepts fiat currencies and has added new game providers to its roster of suppliers.

New Standards for UK Online Gambling - Online gambling service and technology providers, along with operators and testing agencies will be studying the new gambling software and technical standards proposal published by the UK Gambling Commission following a public consultation.

Pennsylvania Gambling Bill 1887 returned with additions - The interaction between the Pennsylvanian House and the state Senate has become increasingly like watching a game of ping pong as the two political establishments wrestle with online gambling legalization and court-ordered tax fixes in the dying days of the current political season.

UKs Advertising Standards Authority vs Ladbrokes - A Ladbrokes Casino email promo has fallen foul of the UKs Advertising Standards Authority who deemed significant terms and conditions concerning bonusing to be unclear or misleading.

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.

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