The original bill S3075 had proposed a ten year extension which would have seen New Jersey online casinos and sportsbooks assured of market access until 2033. However, despite no major objections to the industry renewal, the committee opted to reduce the extension period down to just two years.
The changes to the extension were not made public during the public hearing and the committee has given no indication as to why such a drastic change is required. There is also no indication of when a final vote on the bill might take place.
Speaking to the local press, Mark Giannantonio, president of Resorts Casino Hotel and of the Casino Association of New Jersey said:
New Jersey iGaming Extension May Only Run for Two Years New Jersey iGaming Extension May Only Run for Two YearsNew Jersey first allowed online gambling in November of 2013 and since then the state’s casinos and online partners have reported combined revenues of more than $6.29 billion. Interestingly, this figure only reflects the state’s online casinos and not revenues from New Jersey sports betting.
iGaming is just area where New Jersey lawmakers could be about to make some changes. Last week it was reported that representatives and senators would review gambling ads for both online and retail betting and look at the possibility of closing the loophole that allows casino patrons to smoke on the gaming floor.
Ciaran has been working within the Gambling Industry as a deep analyst since 2019. His deep knowledge and understanding of all the gambling regulations, and processes makes him a true asset, and an always valuable point of view for Gambling Industry News, allowing us to cover every topics from a brand new perspective.