New Jersey Governor Phil Murphy signed a bill into law that extends the state’s online gaming operations for five years, through 2028.
The extension came after a back-and-forth between lawmakers and iGaming operators over the length of the extension. The state’s online gaming industry, which leads the nation in revenues, was originally enacted in 2013 for a term of 10 years. The extension bill cleared by the state Senate called for another 10-year term, to 2033.
However, for reasons that are still unclear, the state Assembly Budget Committee amended the bill to a two-year term. After serious pushback from operators, the term was amended to a middle ground of five years.
One of the bill’s sponsors, state Senator Vince Polistina, chose not to address the term length after Murphy signed the bill, but instead emphasized the positive effect iGaming has had on the state.
“The legalization of online gambling and sports betting was a catalyst for struggling casinos in the aftermath of the Great Recession,” Polistina said, according to Yogonet. “It has created a number of good-paying jobs and has generated millions of dollars in tax revenues for the state.”
