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 The New Jersey online gambling bill S 490 has been moving rapidly through the New Jersey State Senate. Originally introduced by Senator Raymond Lesniak in January, the bill has passed the Senate Budget and Appropriations Committee, the New Jersey State Senate, and the most recently, the New Jersey Assembly. Now the bill just needs to pass the full vote which is scheduled to take place this afternoon before Governor Christie decides whether or not he will sign the bill into law. The bill's supporters are hoping that the bill will be enacted before the end of the year but Governor Christie has shown resistance to online gambling legislation in the past so it remains to be seen whether or not he will try to veto the bill.
The bill will basically make it legal for licensed online gaming operators to offer services to residents of New Jersey. Should it pass, New Jersey will be the first state to come right out and legalize online gambling, while many states do not have laws that expressly ban online gambling, New Jersey will be the first to officially legalize and regulate the practice and the first to tax winnings.
New Jersey legislators are hoping that S 490 will provide a boost to the ailing Atlantic City casino industry which has been strongly affected by the recent recession. Not only could the bill bring in additional revenue for the casinos but it could provide much needed tax revenue for the state. The bill is expected to pass with overwhelming support later today.
As always, stay tuned to Casinofan for more news and updates.
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