New Jersey casinos await a decision on the modernisation of New Jersey’s Gaming Laws
25 February 2011 — New Jersey may become the first state in the US to approve the regulation of intrastate online gambling, as Governor Chris Christie decides whether to sign Bill S490 into law. The Bill was passed in State’s Assembly and Senate in January and the period before which the Governor must make his decision will conclude on March 3rd. If ratified, New Jersey will become the only state in America permitting legal online gambling for its residents. Experts speculate that a successfully regulated intrastate iGaming industry could generate up to seven billion dollars in gross yield, create 57,000 new jobs, and contribute an estimated $472 million in tax revenues.
Assemblyman John Burzichelli said: “The casino and horseracing industries are two backbones of New Jersey. They create jobs and spark economic development in many, many ways, and we must ensure they remain strong and competitive economic engines for generations to come. These bills all aim to accomplish that goal on many fronts.” According to his statement in newjerseypressrom.com
The legislation passed in the States Assembly and Senate in January 10th 2011 and is now waiting to be signed into law by Governor Chris Christie. The Governor has four options to execute the Bill before the March 3rd deadline. He could veto the Bill; he could opt for a conditional veto, which sends the Bill back to Assembly and Senate for changes; he could approve the bill into law; or he could choose to do nothing, in which case the Bill would automatically become law on March 4th.
Joe Brennan Jr, Chairman of iMega, the Interactive Media Entertainment and Gaming Association, said, “Governor Chris Christie has decided to take advantage of the time granted to him to make this decision and look closely at all the factors of this bill.”
For an exclusive Q&A with iMEGA Chairman and other media enquiries contact:
Lizzie Phillips, Lyceum Media
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