NJ Online Casinos to Continue for at Least Five Years

By Jerry Smith Staff Writer Updated: 07/10/2023

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Following debates over cutting online casino gambling in New Jersey, a decision has been reached to allow it to continue for at least another five years. State lawmakers had recently proposed that the original bill to reauthorize online casino gambling for another ten years should be cut down to just two years, which created uproar within the state’s gaming industry.

It has now been revealed that proposals have been made to amend this and change it to a minimum of five years.

After the change from ten years to just two years was proposed, gaming and casino groups asked for this to be reconsidered. As a result, the proposal has now been amended to five years, which has brought some relief to gaming companies and officials in the state.

Reason for Amendment Unknown

There appears to have been no solid reason given for the decision to reduce the original reauthorization from ten years to just two years. Some officials said that this was a ‘drastic and unexpected’ move that would have proved harmful to the gaming industry and to the state. Some think it is designed to put pressure on the state to increase gambling taxes.

A number of officials have expressed their relief about the extension now being changed to five years. These include officials from the Chamber of Commerce of Southern New Jersey, who said that they were very pleased that the General Assembly had moved away from the two-year extension idea.

They did also state that while it was not as secure as the original ten-year extension that was originally intended by the sponsor of the bill, it would provide New Jersey with more stability and security than just a two-year extension.

Some have said that it is still important for the extension to be increased back to its original ten years. This includes Mark Giannantonio, president of Resorts Casino and the Casino Association of New Jersey. He said:

The re-authorization of the internet gaming bill for 10 years is vital to the continued success of the gaming industry in New Jersey and the programs that are supported by the taxes collected.

The former mayor of Atlantic City, Don Guardian, also commented on the decision. He said that a two-year extension would have been damaging to the industry because nobody would want to invest in companies that had only two years left.

Keeping the Industry Alive During Pandemic

It was also noted that it was online gambling that kept the industry alive in New Jersey during the global pandemic. People had no other means of gambling during that period, but with online gambling available, they were still able to participate in gaming. This means that operators and the state continued to make money.

Even now, despite all the pandemic restrictions being lifted, online gambling continues to be hugely popular. This is another reason why many officials have said that the extension should be for the original ten years rather than being cut down to just five years.