Senate Budget Committee approves beneficial bill
On Nov. 15, the Senate Budget Committee approved a bill that could fill New Jersey budget with up to $350 million a year, by legalizing internet gambling. What this bill advocates is replacing a $30-million annual subsidy that Atlantic City land casinos give to state horse racing facilities with revenues from legalized online gambling.
The bill does not only promote home internet gambling, but also proposes setting up internet gambling facilities in land casinos and at racetracks.
This is a good advancement for the bill, but it still has a long way to go and undergo further debate. However, if it is passed, New Jersey will be a pioneer in the Us in terms of legalization of online gambling.
According to one of the founders and major advocates of the bill, Sen. Ray Lesniak, this is a new, enlightened approach to online gambling, which could enrich the state by up to $350 million a year through taxation.
On the other hand, despite the fact that state governor Christie is not philosophically opposed to the bill, he has still engaged his attorneys to investigate whether it would be legal for the state to proceed, reported North Jersey.com.
Another State Sen., Jeff Van Drew, assessed that the amended bill was “a good compromise” that could eliminate the horse racing industry’s purse woes while also boosting Atlantic City.
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