New Jersey has become the first state to submit its own online gambling bill to Senate, a revolutionary development in America’s online gambling industry. Players and industry professionals alike are elated at the news, but land-based casinos in New Jersey are not pleased with the idea of legalized online gambling, and they are voicing their concern.
The new bill would allow Atlantic City casinos to take bets from New Jersey residents online. It would make the activity available to players who are not able to take a trip to New Jersey’s gambling capital, while increasing revenue for the casinos. It is estimated that the new online gambling network would create nearly 60 000 jobs and generate almost $8 billion, but land-based casino operators are not convinced.
The eleven casinos that are based in New Jersey do not believe that players would spend their money at the newly established online sectors of Atlantic City casinos, opting instead for older online brands. Even if they obtain a market share in the online gambling market, they will also be losing out on revenue generated from the food, beverage and hospitality industries that thrive on tourism.
However, the state government assures Atlantic City operators that all online gambling activity will stay within state lines. Players from New Jersey will be only be permitted to gamble online at casinos based in the state, allowing for the government to reap the benefits of online gambling’s profitability.
