Many online casino players in New Jersey (NJ) could be in the dark about various games and apps being illegal next year. But, there are chances that this might not happen but a state legislator’s recent comments about extending the status quo state that things are likely to change.
There is a proposed bill that isn’t confronting the gaming issue, instead of promoting online casino play in the state. This might seem harmless but it has a disadvantage to the state and its gambling industry.
The Legislature Ponders About the Future of Online Casinos in New Jersey
The New Jersey Assembly’s Tourism, Gaming, and the Arts Committee backed A2190 on Thursday. It will increase the existing legal mandate for the state’s casino licenses to provide online games until 2033 when the regulators would select a particular date.
Nikita Biryukov from the New Jersey Monitor stated that the existing law marks the end of those games next year. Table games and online slots will be illegal in the state if its legislature doesn’t act fast. Biryukov adds that the bill hasn’t yet received any support in the Senate.
Even so, it will maintain current legislation and postpone next year’s sunset date by a decade if the Senate passes it. Still, some people don’t understand why a sunset date exists.
The Importance of Legal Online Casinos’ Sunset Date in New Jersey
NJ allowed online casino games in 2013 being one of the first states in the country to legalize them. There was a lot of uncertainty back then on how the games would affect the state. So, a sunset date was chosen to help legislators check in to determine if they need to adjust any parameters.
The 2013 law views online casinos as part of Atlantic City’s nine casinos rather than independent entities. The expansion would increase revenue for land-based casinos.
The new offerings made some players dread that online casino operators would reduce brick-and-mortar casinos’ game offerings. Besides, Atlantic City casinos hire many residents and boost other industries that collaborate with casinos.
Biryukov attributed an anecdote to Ralph Caputo, the Assembly Gaming Committee’s chair. Moreover, he is the A2190’s main sponsor.
Biryukov claims that Caputo stated that NJ lawmakers are leaving an open avenue to adjust the law in case online gambling adversely affects in-person betting. Still, there are concerns in the Assembly that online gambling will cannibalize physical casinos in the future. But, it is uncertain what the legislature would do if that ever happened.
New Jersey’s Land-Based Casinos
The American Gaming Association (AGA) stated in August that the United States commercial gaming sector generated its highest ever gross revenue. Land-based casinos’ revenue in the first half of 2022 had increased by 15 percent unlike in last year’s first seven months.
The AGA stated that the revenue that the state’s retail casinos generated between January and July 2022 was 15 percent higher than that between January and July 2021. Yet, they haven’t prevented online casinos from thriving.
The Gaming Association adds that this has been online casinos’ best year nationwide since they started operating. Their income is 44 percent higher than that in 2020. Leading casino operators such as Everi had the highest quarterly revenues in Q2 of 2022.
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