New Jersey legalizes Online Gambling

Online Gambling preview in the US:

In a move intended to help boost revenues and invigorate Atlantic City casinos, New Jersey Governor legalized Online Gambling within its territory – last month.

The good news were announced the same day with the fiscal plan for 2024, approving the law to legalize internet gaming to all New Jersey residents, counting with more than 9 millions and positioning this state as the 11th most populous within the USA.
From another point of view, this state will become the largest so far and the third in the United States to allow online gambling after Delaware and Nevada, according to the NCSL (National Conference of State Legislatures).

This event also sent a green light for the European companies with expertise in online gaming operations, creating opportunities to invest on a market that its opening in the US – promising high revenues to the investors.

As expected and to start leading the trend – Nevada “The Mecca of land casinos” became the first US state to allow online poker. No surprise here, everybody expects that the online gambling activities may also boost revenues on the land based casinos.

On a statement, New Jersey’s governor - Chris Christie – declared: “We are offering a responsible yet exciting option that will make Atlantic City more competitive, while also bringing financial benefits to New Jersey as a whole”.

Beside the approval, the lawmakers agreed to include a provision to review the program and measure the impact on the economy and also the gambling problem after 10 years.

By legalizing online gambling, the state pursues a jump on its casino revenues estimated in more than $200 million for 2024. The investors see a huge potential to unlock a market that worth more than $1 billion and the special taste of becoming one of the pioneers of a wave that promises to keep expanding in the US.

Up to eight U.S. states are considering legalizing online gambling to varying degrees, according to analysts at Citigroup.

Some of the gaming companies following the news closely:

• Bally Technologies
• WMS Industries
• Caesars Entertainment
• International Game Technology
• among others

bwin.party already has a joint venture with Boyd Gaming and 888 holdings also signed a deal with Avenue Capital Group, the investment firm, to form a new company called the All American Poker Network.

The table is set… now looks like a good time to play.

What do you think will be the consequences? Do you think the gambling problems will increase within the US or the legalization will create a source to fund and support people with gambling problems? share your comments with us!

CNBC news about online gambling in the US: