A New Jersey state Assembly committee has approved a bill that will extend the state’s online gambling industry, with one major amendment — it will only be extended for two years.
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.
New Jersey iGaming Extension May Only Run for Two YearsSpeaking 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.
