Ever since New Jersey became one of three States to legalize online gambling in 2013, State Sen. Ray Lesniak had in the back of his head the idea to expand its online gambling market by linking up with other regulated markets.
After having generated over $600 million in revenue since legalizing online gambling, boosted state coffers by $83.5 million, created more than 3,350 jobs, and paid out over $200 million in salaries, the time is ripe to turn that idea into reality.
Lesniak told reporters on Wednesday that he intends to introduce a bill which would allow players from other jurisdictions where online gambling is legal to place wagers at any of the State’s online casinos and poker rooms.
The bill also looks to remove current stipulation that online operators must have their online gaming servers set up within Atlantic City. This rule was originally put in place to make sure that the main beneficiary of internet gaming was Atlantic City, however, as results have proven, this may have instead only served as a limitation that wasn’t in the State’s best interest. Without this restriction, international operators will be allowed to pool their players with New Jersey gambling sites.
Although the bill has yet to be drafted, there are plenty of reasons for New Jersey to be excited about as the success of online gambling played a huge role in the resuscitation of the Atlantic City’s fading gambling scene. The first half of 2017 has seen the total Atlantic City gaming revenue increase by 3.5 percent to $1.29 billion compared to $1.24 billion from the same period in the previous year.
“Online gaming has helped Atlantic City to revive its casino sector with a success that we can expand in ways that will generate more revenue, create jobs and fuel technological innovation in gaming,” said Lesniak.
Lesniak’s proposal is by no means original, as both the other two fully legalised states of Nevada and Delaware already shares liquidity with one another. However, the Senator has said he also has his eyes on Pennsylvania and other states that are close to legalizing online gambling, aiming to transform New Jersey into the “Silicon Valley of internet gambling”.
Although online casinos continue to achieve year-on-year progress, New Jersey’s online poker market hasn’t been receiving quite the same love from online gamblers. This year in June recorded its lowest revenue ever, with the year’s total revenue at $12.58 million, down 8.4 percent compared to 2016. If New Jersey expands its online gambling borders, it would not only help its own online poker market, but provide a massive boost to the online poker industry as a whole.
-
Tags:
