The bill that would extend online gambling by New Jersey casinos made a big step by advancing out of the Senate budget and Appropriations Committee.
Similar legislation in the Assembly also advanced. The bills will now be brought to the floor to be approved. If that happens, they could be on Gov. Phil Murphy’s desk to sign by the end of the month.
Internet gambling was approved in 2013 but only for a 10-year period. The current legislation would extend online gambling for another 10 years. The current law expires in November. The new bill would also be temporary and would last until 2033.
“The legalization of online gambling and sports betting was a catalyst for struggling casinos in the aftermath of the Great Recession,” said bill sponsor Sen. Vince Polistina in a statement. “In places like Atlantic City, internet gaming has created a number of good paying jobs for workers as well as generating millions of dollars in tax revenues for the state.”
While casinos have seen gambling slow in their facilities, internet gambling has steadily risen. In April, the state saw $159 million in revenue, up more than 16% from the same month last year.
Online casinos really thrived during the COVID-19 pandemic. Atlantic City casinos were closed for nearly four months and saw a $112 million loss. Online casinos are associated with brick and mortar locations.
Government officials backed up the numbers, saying that online casinos have been a life saver. The state has seen more than $250 million in taxes by online casinos.
“We believe this has been just a huge help to the casinos, particularly during the pandemic,” said Hilary Chebra, manager of government relations for the Chamber of Commerce of Southern New Jersey.
One concern has been the possibility of problem gambling. It is far easier to place bets on sports or play online blackjack than drive to Atlantic City.
A separate bill making its way through the legislature would call for a program to help improve treatment for people with gambling addictions who have committed a crime.
