It’s really a Definite Maybe Next Time for Christie on online Gambling for New Jersey
Saying ‘now is the full time for our state to go forward, again at the forefront for the world, by becoming one of this first states to allow online gaming,’ New Jersey Gov. Chris Christie ironically yet again this week vetoed his state’s draft that is latest of A internet gambling statute. Citing concerns over gambling tax revenue rates being set too low, as well as over transparency issues for companies seeking online gambling licensure, Christie however showed a glimmer of hope for passage of revised versions of the bill to come, possibly as early as March.
Both State Sen. Raymond Lesniak and State Assemblyman John Amodeo were encouraged by Christie’s wording in vetoing the bill, noting that ‘the governor’s concerns can easily be addressed’ with a newly worded measure.
On the line are millions of dollars in potential revenue, specially key in a state whose brick-and-mortar casinos took a heavy hit last 12 months, at minimum in part due to the ravages of Hurricane Sandy. Also impacting brand New Jersey’s ailing land casino marketplace is competition that is hard-hitting gambling-friendly neighboring states like Pennsylvania and ny. Profits have already been falling steadily since 2006, and hit a low of just over $3 billion year that is last a 2006 total of $5.2 billion.
Perhaps smelling blood from the veto action, Nevada Gov. Brian Sandoval quickly pressed his state’s lawmakers to acce (more…)