NJ egaming vote set for 26 February

Online gambling regulation in New Jersey is a step closer after the Senate president and Assembly speaker said they would support Governor Chris Christie’s recommended changes ahead of a 26 February vote.

Democrats Steve Sweeney and Sheila Oliver yesterday lent their support to Christie’s proposals, made as part of a conditional veto last week, with the intention of having both the Senate and the Assembly vote on the changes at Christie’s budget address later this month.

Christie wants to see online winnings taxed at 15% rather than 10%, as well as a review of the legislation after 10 years. He has also asked for amendments to sections about gambling addiction and licence issuing fees, and a requirement that state-elected officials disclose representations of entities which apply for or obtain licences.

Sweeney said in a statement: “Internet gaming will be a crucial boost to Atlantic City as we continue our efforts to revitalise the area. The economic benefits to the region will mean additional revenue, additional jobs, and additional growth. It cannot be stressed enough how important it was that New Jersey be ahead of the curve on internet gaming.”

The bill, sponsored by Senator Raymond Lesniak, was first approved by a New Jersey committee in May 2012.

Last month a leading analyst claimed New Jersey’s online market could generate between US$650m and $850m a year, which would mean an additional $150m in additional tax revenues each year. One casino which has been struggling in particular is the Atlantic Club Casino, set to be acquired by PokerStars, which has also welcomed Christie’s response to the push for egaming.

The first version of the bill included a ‘bad actor’ clause which would have prohibited any organisations that offered online gambling in the US after 31 December 2006, including the likes of PokerStars and Full Tilt, but this provision was removed in December last year.