Internet gaming in NJ set to expire in November
Online gambling is not a permanent perk in the Garden State.
The New Jersey law approved in 2013 legalized internet gaming for a period of 10 years, and time runs out in November.
But it looks like there won't be much debate over whether or not New Jersey will let the revenue keep rolling in beyond 2023. Over the past week, committees in the Assembly and Senate each unanimously approved a measure that extends internet gaming authorization for another 10 years.
The Senate and Assembly schedules would allow the bill to hit Gov. Phil Murphy's desk by the end of June.
"We've seen online gambling be an asset to our region, particularly during the pandemic, and we would like to see it extended," Hilary Chebra, manager of government affairs for Chamber of Commerce Southern New Jersey, told lawmakers.
Taxes from internet gaming have produced hundreds of millions of dollars' worth of yearly revenue for the state in recent years. Internet winnings reported by casinos and their partners in May 2023 totaled more than $161 million, a 19% jump from May 2022.
According to Chebra, there more than 30 online gaming websites affiliated with the nine casinos in Atlantic City.
Just a handful of states permit online casinos, including New Jersey neighbors Pennsylvania and Delaware.
According to Roger Gros, publisher of Global Gaming Business Magazine, New Jersey is "sure to pass an extension" because of the huge tax haul that online casinos provide.
New Jersey has the "best model for online gaming in the country," according to Gros. But he fears that politicians in the state will eventually try to grab more tax revenue from the system.
"Other states have failed to emulate New Jersey at their own peril," Gros said. "It's one thing New Jersey has gotten right when it comes to the gaming industry."