Just last week, New Jersey Governor Chris Christie vetoed online gambling legislation with tentative approval is a few minor changes were made. Legislatures jumped at the opportunity to make changes and now it looks as though approval could be given for the amended online gambling bill by the end of the month.
Lawmakers have stated that by February 26th, the online gambling bill will have the recommendations by Christie and be approved. A statement was released with comments by Senate President Stephen Sweeney, which read: “Internet Gaming will be a crucial boost to Atlantic City as we continue our efforts to revitalize the area. The sooner we bring Internet gaming to New Jersey; the better off Atlantic City is going to be.”
A substitute bill is currently being drafted by the Office of Legislative Services and the changes will include the suggestions of the governor. This will include an increased tax rate from 10 percent to 15 percent as well as limiting the implementation of online gambling to ten years. Shelia Oliver, the Assembly Speaker, stated that a vote will take place on February 26th, before the governor’s budget address. Oliver stated: “We need to keep New Jersey’s gaming industry modern and competitive, and that means allowing carefully regulated internet gaming.”
Lawmakers wanted to hurry and move the online gambling bill along, so despite a meeting scheduled for March, the group moved up a meeting to the 26th of this month. Once the voting takes place, the bill will then move on to the governor for signing. Christie would then have the forty five day time period to sign the measure. Christie has stated he would sign the bill into law if his recommendations were added, so hopefully he will do just that.
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