New Jersey Pushes for Legalized Sports Gambling
Following the economic struggles of Atlantic City casinos to raise revenues, New Jersey legislators this Thursday received an effort to push for the legalization of sports Gambling in all Atlantic city casinos.
This isn’t the first time that legislators have tried legalizing sports gambling in New Jersey, yet the effort received sudden serious consideration after 2007 saw Atlantic City Casino’s revenues not increase for the first time in 30 years. Perhaps this time the legislation will be passed?
An Assembly Committee will present the legislation to voters asking them to approve sports gambling on all professional sports. Introduced sports gambling has been estimated to bring in an additional $8 million in Atlantic City casino tax revenues each year, as well as attract both visitors and tourism to the city, something strongly needed following the launch of legalized slots parlors in most neighboring states.
However, National Football Leagues have opposed the legalizing of professional sports gambling, claiming that such activity would risk the integrity of the field of sports. According to the Committee Chairman and Assemblyman John Burichelli, “sports betting gambling exists in New Jersey, but only the criminals are enjoying the profits. Legal, carefully regulated sports wagering would bolster both Atlantic City and the state. New Jersey should go all-in.”
Assembly Budget Chairman, Liu Greenwald, says that “Atlantic City is the right atmosphere for such an enterprise, and the state of New jersey should fully explore this option.”