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New Gaming Rules Allow New Jersey Casinos to Keep Progressive Jackpot Money
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The New Jersey Division of Gaming Enforcement has announced a new rule in connection with progressive jackpots that could seriously hurt players' interest. Land based casinos will now be allowed to terminate progressive jackpots and keep the accrued money as long as they tell their players 30 days ahead of time. If no one wins the jackpot during the allotted time then the casinos could stand to make millions in additional revenue. Until now when a machine failed to bring in traffic, could only do away with them by adding the money collected for the jackpot to the other progressive games at their casino. Now it appears casinos will be able to do away with progressive jackpots as they see fit.

Josh Lichtblau, director of the New Jersey Division of Gaming Enforcement, defended the new rule saying that it would give the casinos more flexibility when it comes to removing unpopular machines and allow them to compete more effectively with neighboring states. He did his best to assure reporters that the casinos would not be allowed to let jackpots build up, cancel them, and then bring them back with a lower jackpot.

It is unlikely that casinos will go on a progressive jackpot cancelling spree since it would not sit well with their customers but the fact that they now have the option to do so is a little unsettling to say the least.

As always, stay tuned to Casinofan for more news and updates.


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