New Jersey: "This is a Major Victory. The Governor Has Shown Great Leadership"
Thursday has been all about New Jersey. Earlier today, Governor Chris Christie issued a conditional veto of a bill legalizing and regulating internet gambling. Several changes to the measure are required, at which point the state's Legislature will need to resubmit it for approval. Despite a conditional veto, the odds of passage are looking strong. New Jersey would join Delaware and Nevada as the only regulated online gaming markets in the United States.
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Closely involved in the effort in New Jersey is Joe Brennan (pictured below), Chairman of the Interactive Media and Entertainment Gaming Association, or iMEGA. Brennan told PocketFives from a gaming conference in London, “The changes Governor Christie has asked for show his commitment to New Jersey becoming the leader in i-gaming. The protections they put in place are consistent with the Governor's long-held desire to make New Jersey the 'epicenter' of a safe and secure online gaming industry. There is still a little work to do, but this is a major victory, and the Governor has shown great leadership on this issue.”
Among the changes outlined in Christie's veto are the taxation rate going up from 10% to 15% as well as the implementation of a 10-year period after which lawmakers will have the “perspective and opportunity to revise and renew internet gaming as appropriate.”
Also, weighing in on Thursday was Poker Players Alliance Executive Director John Pappas, who commented in a press release, “Today, Governor Christie took a critical step toward re-building New Jersey’s economy and establishing strong standards so that internet gaming will be enjoyed responsibly. While the New Jersey Legislature has some work to do before this bill becomes law, we believe this is a victory for New Jersey residents who reached out to the Governor in droves expressing support for this bill.”
Pappas added, “Now, New Jersey is well positioned to serve as a leader in the innovative internet gambling market and can pave the way for other states to adapt similar structures moving forward. We urge the Legislature to act swiftly to pass this important legislation.”
According to the PPA, the proposed i-gaming bill, which was passed by wide margins in both houses of the New Jersey Legislature, would bring in over $200 million and create nearly 2,000 jobs. New Jersey's gambling market has been ransacked in recent years by competition in neighboring states like Pennsylvania and Delaware. Atlantic City was also hit hard by the recent Hurricane Sandy.
Keep it tuned to PocketFives for the latest news.
Thursday has been all about New Jersey. Earlier today, Governor Chris Christie issued a conditional veto of a bill legalizing and regulating internet gambling. Several changes to the measure are required, at which point the state's Legislature will need to resubmit it for approval. Despite a conditional veto, the odds of passage are looking strong. New Jersey would join Delaware and Nevada as the only regulated online gaming markets in the United States.---
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---
Closely involved in the effort in New Jersey is Joe Brennan (pictured below), Chairman of the Interactive Media and Entertainment Gaming Association, or iMEGA. Brennan told PocketFives from a gaming conference in London, “The changes Governor Christie has asked for show his commitment to New Jersey becoming the leader in i-gaming. The protections they put in place are consistent with the Governor's long-held desire to make New Jersey the 'epicenter' of a safe and secure online gaming industry. There is still a little work to do, but this is a major victory, and the Governor has shown great leadership on this issue.”
Among the changes outlined in Christie's veto are the taxation rate going up from 10% to 15% as well as the implementation of a 10-year period after which lawmakers will have the “perspective and opportunity to revise and renew internet gaming as appropriate.”
Also, weighing in on Thursday was Poker Players Alliance Executive Director John Pappas, who commented in a press release, “Today, Governor Christie took a critical step toward re-building New Jersey’s economy and establishing strong standards so that internet gaming will be enjoyed responsibly. While the New Jersey Legislature has some work to do before this bill becomes law, we believe this is a victory for New Jersey residents who reached out to the Governor in droves expressing support for this bill.”
Pappas added, “Now, New Jersey is well positioned to serve as a leader in the innovative internet gambling market and can pave the way for other states to adapt similar structures moving forward. We urge the Legislature to act swiftly to pass this important legislation.”
According to the PPA, the proposed i-gaming bill, which was passed by wide margins in both houses of the New Jersey Legislature, would bring in over $200 million and create nearly 2,000 jobs. New Jersey's gambling market has been ransacked in recent years by competition in neighboring states like Pennsylvania and Delaware. Atlantic City was also hit hard by the recent Hurricane Sandy.
Keep it tuned to PocketFives for the latest news.
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