iGaming Business – Regulators in New Jersey have moved a step closer to opening the US state’s online gambling service to an international audience after a new bill was approved by the state Senate Government, Wagering, Tourism and Historic Preservation Committee.
According to the Associated Press news agency, the bill would allow casino regulators to oversee foreign online gambling companies if they were to move their operations to Atlantic City.
Senator Reymond Lesniak sponsored the bill and said many overseas gambling companies are keen to gain approval from New Jersey’s casino regulators.
“This could help make New Jersey the leader in online gaming, across the country and around the world,” Lesniak said. “We could be the ‘Silicon Valley’ for high-tech gaming. We should take advantage of this dynamic opportunity for a business sector with enormous growth potential.”
Under the proposed bill, foreign companies would not be able to take bets from anyone in the US but would be required to pay the same 15% tax that New Jersey casinos do on online revenue.
However, lawmakers did opt to drop a provision in the original bill that required companies to contribute to a fund to raise $20 million (€14.5 million) per year to boost the state’s struggling horseracing industry.
Senator Jim Whelan, a former mayor of Atlantic City, has also pledged his support to the bill and is optimistic about what it could mean for the state.
“International Internet gaming is already taking place,” Whelan said. “This gives Atlantic City the opportunity to build and expand on its casino business.
