New Jersey One Step Closer to a Virtual Atlantic City
09 April 2012
The legislation that will allow people in New Jersey to gamble online at a virtual Atlantic City casino has taken another step forward. The Senate Budget and Appropriations Committee voted 11-0 to advance the proposal.
Though unanimous, there were five senators who were concerned that horse tracks were not a part of the legislation. Sen. Raymond Lesniak, D-Union who is the main sponsor of the legislation hopes that online gambling will be running in New Jersey by the fall. He also stated that a deal has not been reach with Gov. Chris Christie as yet. Christie vetoed a similar bill to this last year.
Sen. Raymond Lesniak states,
“What we want to do is get this Internet gaming up and going before the end of the year, hopefully by September, so that New Jersey can be the first in the nation and lead the way.”
What’s at stake? Money, jobs and prestige. A lobbyist for Interactive Media Entertainment & Gaming Association, Bill Pascrell III, said that the state who establishes online gambling first could become the technology hub for the online gambling industry.
Pascrell wants New Jersey to be the hub, “We need to create the Silicon Valley of Internet gaming in New Jersey.”
Money and jobs is another big factor in the push to get online gambling. The state Casino Revenue Fund Advisory Commission consultant quoted by officials has said that online gambling could generate $210 million to $250 million in gross revenue, 1,900 jobs and $46 million to $55 million in tax revenue.
14 May 2010Canadian Man Pleads Guilty in U.S. Online Gambling Charge
Douglas Rennick, a Canadian man, has pleaded guilty to a count of processing offshore bets of U.S. citizens. Originally Rennick was looking at a charge of conspiracy and bank fraud. He had allegedly laundered $350 million dollars for overseas internet gambling companies. Rennick was indicted in August and on Tuesday entered a guilty plea to the one charge in New York Federal court. Part of the plea was forfeiting $17.1 million and a possible prison term of 6-12 months.Read full article
02 June 2010France to Award 30 Licenses for Online Gambling
Today the government of France approved a new online gambling bill. The bill passed the French parliament by a narrow 299-233 vote. The French will grant only 30 licenses to operate online casinos and poker rooms within its borders. Though it is now official and France says that licenses will be granted in time for the 2010 World Cup, not everyone is excited about the French market.Read full article
09 June 2010France Issues 11 Licenses For Online Gambling
France acknowledged that 11 companies have been granted license and have been registered to conduct online sports and horse race betting as well as online poker within France. According to Arjel president Jean-Francois Vilotte, the regulator of gaming in France, “There were 35 requests for licenses and we have retained 17 at this stage. None have been formally rejected.Read full article