Atlantic City – Senator Raymond Lesniak (D-Union), the sponsor of New Jersey’s Internet gaming law, announced a new initiative on Thursday that would put New Jersey at the hub of an international gaming industry that is expected to experience rapid growth in the years ahead. The plan would help attract international gaming companies to New Jersey, producing jobs, state revenue and economic expansion, Senator Lesniak said.
“This could make New Jersey the leader in online gaming. We are well positioned to take advantage of a dynamic opportunity to be at the hub of a new business sector with the potential for economic growth and job creation,” said Senator Lesniak. “We offer the stability and security of a regulated marketplace, we have an educated workforce and a high-tech infrastructure. New Jersey could be a global destination for internet gaming.”
Senator Lesniak was joined at the news conference by Adam Ozimek, a representative of Econsult Solutions, who said this could generate $5 billion to $8 billion a year in revenue and produce 11,000 to 16,000 jobs.
Senator Lesniak’s bill would authorize the Division of Gaming Enforcement to provide licenses to companies that offer Internet gaming to other countries where it is legal, allowing overseas customers, including casinos, to place wagers on casino games via the Internet. The service would be restricted to foreign countries and regulatory agreements would have to be implemented between New Jersey and the foreign jurisdiction. The Division of Gaming Enforcement shall promulgate regulations to ensure that each person licensed to provide restricted foreign Internet wagering meets standards for Internet wagering equivalent to those applicable to Atlantic City casinos regulated by the division.
“New Jersey’s casino industry is well regulated and highly respected, which gives us an advantage,” said Senator Lesniak. “We can capitalize on our strengths and attract business to build and invest in our state. There’s no reason this business should be going to Gibraltar or the Isle of Man when it could be coming to New Jersey.”
The bill requires that the entire foreign Internet wagering operation, including facilities, equipment and personnel, shall be located in a secure facility inaccessible to the public and specifically designed for that purpose at an approved location in New Jersey.
“New Jersey’s Internet gaming law will be a real boost to the state, Atlantic City and the casino industry,” said Senator Lesniak. “International online gaming will provide even more opportunities, more jobs and more growth. We need to lay the foundation now.”
