Will Online Gambling Benefit Atlantic City ?

In New Jersey supAtlantic Cityporters of online gambling see it as a way to transform Atlantic City into the ‘Silicon Valley” of gambling. Atlantic City casinos have been devastated by the economy, competition from casinos in neighboring states and Hurricane Sandy. Critics of online gambling believe that players will stay away from Atlantic City casinos preferring to gamble from the comfort of their own homes. Steve Norton, who was part of the executive team that opened Resorts Casino Hotel in 1978, stated “All of a sudden, the need to come to Atlantic City becomes less and less and less.”

Last week New Jersey Governor Chris Christie vetoed an online gambling bill saying he would sign it if certain conditions were met. Christie said he would sign the bill if it limits online gambling to a 10 year period with annual reviews. Legislators hope to have a revised bill on Christie’s desk shortly. State Senator Raymond Lesniak, D-Union, one of the primary sponsors of the legislation, told reporters “This is the future of gaming. It will give the Atlantic City casinos the opportunity to be the Silicon Valley of Internet gaming by positioning them to be the hub of future expansion into other states.”

Lesniak and other legislators are predicting a swift passage of the revised piece of legislation. Casino regulators would then have to grant online gaming licenses which means it could be months before the first online wagers are placed in New Jersey. Internet gambling would take place on servers located at Atlantic City casinos. The casinos would be the only ones allowed to accept online wagers. Since gambling is limited to Atlantic City this will satisfy constitutional requirements. New Jersey will tax gross internet gambling revenues at 15%. Currently gross gambling revenue is taxed at a flat rate of 8% in the state.

Estimates of the amount that will be generated by online gaming have ranged from $230 million to $850 million annually. Some gaming experts predict that online gambling in New Jersey will generate $1.5 billion within five years. New Jersey State Senator Jim Whelan believes it would be foolish to let other states get the jump on New Jersey and gain a competitive edge. Nevada and neighboring Delaware have already authorized online gambling and Nevada is prepared to provide online gambling services to other states.

Currently most online gambling legislation would only legalize poker. Some states have said that if online poker is successful they plan to add other games such as online bingo, slots and other casino and table games. For now it looks like online bingo players will have to wait a little longer before their favorite game becomes legal in the United States.

Online Bingo Reviews

Subscribe for Newsletter

We respect your email privacy
Read our privacy policy
Protected by Copyscape Original Content Checker
Visit Us On Twitter