The iGaming industry in New Jersey may expand if a bill passed by the state Assembly becomes law. After hearings last week, the lower house passed a bill that would permit racetracks to participate in online gaming in the state. Although the casino industry has resisted the inclusion of racetracks, the bill allows racetracks get on board if they reach an agreement with any Atlantic City casino or a “skin” that is connected to an Atlantic City licensee.
Ralph Caputo, a former Atlantic City casino executive and now an assemblyman from North Jersey, says the intent is to revive the racing industry.
“It would bring more traffic into the racetracks, and they need it desperately,” Caputo told the Atlantic City Press.
Dennis Drazin, the chairman and CEO of Monmouth Park, a racetrack in Oceanport, north of Atlantic City, says the casinos should understand his dilemma.
“The casinos should realize that absolutely nothing will happen unless they agree to allow it through an agreement with a track,” said Drazin. “Nobody is forcing anything on them. This is really a win-win for the racing industry and the casino industry.”
No hearings or vote has yet been scheduled in the state Senate.
Internet gaming has been a bright spot in a flat Atlantic City revenue picture. For the first 10 months of 2017, iGaming revenue in New Jersey was $204.2 million, or $7.55 million more than the same period in 2016.
