Passed by the Assembly (63-11-3)
Passed by the Senate (35-2)
Internet Gambling Bill S490 is now on its way or at the illustrious desk of Governor Chris Christie awaiting his signature. Once signed by Gov. Christie it will become a law in New Jersey but only in New Jersey. It will also create the very first "legal online gambling jurisdiction" in the United States. Finally, a State that has the balls to show the US Government that the UIGEA Prohibition of 06 was as bad an idea as the Liquor Prohibition or 'Volstead Act' of 1920 was. With New Jersey taking this final legislative step to allow an "intrastate internet
gambling system" for residents of New Jersey to gamble online from the comforts of their homes we are optimistic that other States such as Florida and California will soon follow suit too. Both of those states also have online gambling bills in the process there as well.
Both the New Jersey Assembly and the Senate lawmakers have now completed their final votes and overwhelmingly approved this proposal to allow casinos based in Atlantic City to obtain special licensing to run a version of their casinos as online portals that will sell access to casino games such as poker and online versions of traditional games such as baccarat, blackjack, craps, big six wheel, slot machines, mini-baccarat, red dog, paigow, and sic bo.
*Also worthy to note is the fact that the previous Bill entry "persons located outside of the United States" has now been bracketed from the Bill along with the game of Roulette. The third reprint of the bill also states that each slot machine offered shall have a minimum payout percentage or RTP of 83%.
The latest breakdown of the S490 / A2570 Bill process is as follows:
1/12/2010 Introduced in the Senate, Referred to Senate State Government, Wagering, Tourism & Historic Preservation Committee
6/3/2010 Reported from Senate Committee with Amendments, 2nd Reading
6/3/2010 Referred to Senate Budget and Appropriations Committee
11/15/2010 Reported from Senate Committee with Amendments, 2nd Reading
11/22/2010 Passed by the Senate (29-5)
11/22/2010 Received in the Assembly, Referred to Assembly Regulatory Oversight and Gaming Committee
12/9/2010 Reported out of Asm. Comm. with Amendments, and Referred to Assembly Budget Committee
12/13/2010 Reported out of Assembly Committee, 2nd Reading
1/10/2011 Substituted for A2570 (1R)
1/10/2011 Passed by the Assembly (63-11-3)
1/10/2011 Received in the Senate, 2nd Reading on Concurrence
1/10/2011 Passed Senate (Passed Both Houses) (35-2)
Sen. Raymond Lesniak, D-Union, the original sponsor of Bill S490 said he believed the support of his co-sponsor, Sen. Joseph Kyrillos, (R- Monmouth/Middlesex), meant Republicans were prepared to give the experimental concept their backing and that "this bill had bipartisan support".
Lesniak also stated that the State's entry into the online gaming market would boost casino revenues by $100 million and would create 500 high-tech jobs. Of course this is exactly what Atlantic City needs right now to jump-start their fledgling casino economy where 2010 Reports look almost as bad as 2009. The figures that were released yesterday show Atlantic City's gambling revenues fell 9.6% in 2010 which is the second worst decline since 2009's 13% drop. Business drops were seen by all 11 Atlantic City Casinos last year.
All indications are looking promising that Governor Chris Christie will sign this very important piece of legislation into law in order to help revive the state's gaming industry. In doing so the law will also help the New Jersey gaming industry to thrive over it's competitors in Nevada by creating more jobs and very much needed tax revenue for the people of New Jersey. And finally and hopefully it will send a clear message to the lawmakers in Washington to get their heads outta their azzes and repeal the UIGEA and start regulating!
Contributing Article Writer: Chad Gunn
RELATED ARTICLES:
Online Gambling in New Jersey ~ Senator Lesniak's Views
Internet Wagering in N.J. May Go Live Soon!
Gambling Bill HR2267 Update On Proposed Regulation
Internet Gambling Regulation Bills H.R. 2267, H.R. 2268 and H.R. 4976
The Gambling Guru
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