Global Gaming Expo (G2E) is the international gaming trade show and conference “by the industry and for the industry.” Organized by the American Gaming Association (AGA) and Reed Exhibitions, G2E made its debut in the fall of 2001, defining itself as the pre-eminent show for the gaming-entertainment industry.
Lesniak who is considered a major power broker in the Democratic Party in Union County has been serving in the New Jersey State Senate for the past 27 years, where he represents the 20th Legislative District. Senator Lesniak discusses his views and the current efforts being set forth on the legalization of online gambling in the State of New Jersey. As some of you may remember this past January, Senator Lesniak as Primary Sponsor, introduced in the N.J. State Senate; Bill S3167 which "Permits Internet wagering at Atlantic City casinos under certain circumstances". Read on....
After moving through several committees this year and now known as Senate Bill No. 490, the Senate Budget and Appropriations Committee reported favorably on the bill with a few committee amendments early last week. Now out of committee and back in the Senate Chambers, S490 is scheduled to be voted on as early as tomorrow in the 2:00PM Senate Session. The amended version of Senate Bill S490 authorizes Internet wagering at Atlantic City casinos which "would enable New Jersey residents and persons located outside of the United States to place wagers on casino games via the Internet".
What the Bill does not do is to allow New Jersey residents to place wagers on casino games that are not served from Atlantic County, N.J. Internet wagering at off-shore casinos, European casinos, etc., would still not be allowed for the gamblers in New Jersey via the Internet. J Todd and Senator Lesniak touch on that very issue in the exclusive video interview below....
"There's No Debate, New Jersey Is Going First", Senator Raymond J. Lesniak
Senator Lesniak seems very confident that his State will now beat out California and Florida by being the first State in the USA to legalize Internet Gambling within it's own borders and he also thinks that this will happen before years end. Mr. Lesniak admits in the video that this legislation may raise several international trade issues by allowing other countries citizens to gamble over the internet in "Atlantic City Casinos" but not allow citizens of New Jersey to actually gamble over the internet at casinos located in other countries. That of course boils down to that asinine act that was signed into law by President Bush on October 13, 2006 as a slid-in-attachment called the UIGEA.
The UIGEA, also known as 'the Unlawful Internet Gambling Enforcement Act of 2006' basically prohibits the transfer of funds from a financial institution to Internet gambling sites but it did not specifically make "Internet Gambling" illegal as many think it did. The mass media have long been reporting that Internet Gambling is illegal but that is simply not the case. There is no specific law that states that as fact! The burden of that asinine law has now been placed in the enforcement hands of the individual banking institutes in the USA. Transactions that do not flow through the traditional banking system are not monitored or enforced by the banks. How could they be?
All the UIGEA accomplished was to run the integrity driven and honest operators (mostly publicly traded companies) out of the US market while still allowing (unknowingly maybe) the non-public companies to thrive in what is now considered a black-market. Much as was the case during the prohibition era.
If Senator Lesniak' S490 Bill can pass Senate approval and the Governors signature it should set a new precedence and open up a whole new ballgame for the online gambling industry. On a final note, Senator Lesniak has one other related Gambling Bill S12 that is also scheduled to be voted on tomorrow. One very interesting aspect of this Bill is the part that reads: "The bill would also require the commission to expeditiously implement Internet wagering when it is permitted under State and federal law." We will continue to watch these Bills closely and keep you guys up to date on the latest happenings.
Sex, Lies, & Politics
The Gambling Guru
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