Online Gambling in New Jersey Coming Down to the Wire
22 February 2011
It is coming down to the wire for Governor Christie to act on the internet gambling bill that is still lying on his desk. The bill was passed by the New Jersey legislature on January 10th with a feeling of that it was a safe bet to get passed the Governor’s desk and help the state increase its revenue.
That is not been the case. Now it seems the New Jersey Governor may not sign the bill into law. Reports now say that Governor Christie is being pushed in both directions about intrastate online gambling and leaning towards vetoing the bill.
Supporters say that this bill is exactly what New Jersey needs and will generate $10 million dollars on revenue a month which will equate to $28 million annually in revenue for the state.
One strong opponent of the bill however is Caesar’s Entertainment Corp. Oddly an Atlantic City licensee who would monetarily benefit from offering online gambling in New Jersey. Caesar’s however is looking at the big picture and believes if New Jersey passes this bill into law it will impede any progress on the federal front to legalize online gambling nationally.
One major sponsor of the bill has said that if Governor Christie veto’s the bill, they will not act to override it.
Fairleigh Dickinson University’s PublicMind released a poll on Monday showing that the majority of people in New Jersey do not want online gambling at the casinos there but do want sports betting.
62% of New Jersey voters favor sports betting in Atlantic City Casinos or horse tracks. 55% say that people are betting on sports anyway so it should be allowed and taxed. When it comes to betting online however, 62% oppose the idea.
Peter Woolley, a political scientist and director of the poll said, “People suspect that the Internet makes the barrier for participation in gambling too low, maybe a little like having a liquor store right at everyone’s door.”
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