State lawmakers have extended online gaming legislation for another decade
On Monday, the Finance and Budget Committee in New Jersey made a significant move by approving the passing of S-3075. This legislation aims to grant state casinos an additional decade to leverage online gambling laws within their operations. The goal is to maintain the legality of Internet gambling in New Jersey until 2033, pending final approval. The bill is expected to undergo Governor Phil Murphy’s scrutiny before the month comes to a close.
Senator Vince Polistina, who introduced the legislation, noted the challenges faced by the gambling industry due to the severe economic downturn in Atlantic City. He stated that it was arduous to perceive the beneficial impact of online gambling on this industry. In his view, the casinos suffered greatly after the Great Recession, largely due to the legalization of online gambling and sports betting.
Online gambling in cities like Atlantic City has proved to be a boon for the employment sector, generating numerous high-income jobs for workers while contributing millions of dollars in tax revenue to the state.
In 2013, New Jersey legalized online gambling and permitted it for a time span of ten years that concluded in November. The new proposed law does not entail a definitive legalization but instead prolongs the validity of the internet gambling authorization until 2033.
The advocates of virtual casinos consider it to be a significant upliftment for the casino sector in Atlantic City, particularly during the economic closure enforced because of the COVID-19 crisis. Hilary Chebra, working as the government relations manager at the Southern New Jersey Chamber of Commerce, underscored the advantages of online gaming, by stating that it offers enormous support to the casinos to tackle the pandemic.
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