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 The New Jersey Senate's budget committee took another important step towards the legalization of online gambling within the state. They cleared two bills, S490 and S11, on Monday that would remove a $30 million annual subsidy given by casinos in Atlantic City to state horse racing facilities with the mindset that the revenue generated from legalized online gambling would equal that amount.
When online gambling is legal in the state, residents will be allowed to play online casino games, such as poker, on their personal computers, but the bill also considered creating rooms at casinos and racetracks where people will be able to go play online games. This works out great since many enjoy the ambiance of gambling facilities and the food and on site entertainment that comes with it.
Sen Jeff Van Drew told reporters that the $30 million removed from the horse racing subsidy could go a long way towards the marketing and advertising of the new "casino rooms," which could go a long way towards helping the struggling Atlantic City economy.
Should the online gambling pass as expected, New Jersey would become the first state in the US to legalize online casino games. The move could prove to be very lucrative for the states, and as Sen. Ray Lesniak said the full legalization of online games and online sports betting could bring in as much as $350 million annually in state revenue.
As always stay tuned to Casinofan for more news and updates.
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