New Jersey lawmakers continue to work on a potential state constitutional amendment that would regulate intrastate online casinos in an attempt to get the issue on the November ballot. State Senator Ray Lesniak says the law would be part of the necessary moves to slow the flow of gaming dollars out of New Jersey to alternative gambling venues and sites.Atlantic City casinos are in a declining spiral of revenue that has already lasted over two years. Struggles in the gambling industry due to the recession have been compounded by the increased competition, both from neighboring states and online casinos.
"There are billions of dollars of gambling money that we're leaving on the table," said Lesniak. "We have time to get this right and craft a constitutional amendment that will maximize revenues for the state and for our tourist destinations."
Despite implementation of the UIGEA, New Jersey is perfectly within its rights to regfulate and license Internet gambling, as long as both the casino and customer are located in the state. The proposed measure would give online casino rights to the casinos licensed to operate in Atlantic City, allowing them to reach beyond the walls of their resorts to acoop up gambling dollars.
Lesniak is also pursuing a sports betting bill, but that amendment may be stickier, as federal law forbids a state to legalize sports gambling. Lesniak is suing to have the law stricken on the grounds that it gives favorable treatment to Nevada over other states.
Published on June 21, 2010 by VirginiaMaddox
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