Lesniak Set To Re-Introduce NJ Online Gaming BillLegislation Would Help Struggling Horse Racing Industry |
|
Amidst the closing of Perretti Farms, New Jersey’s largest standardbred horse farm, and serious concerns about the 13,000-job, $1 billion horse racing industry in the state, New Jersey Senator Raymond Lesniak (D-Union) announced in a Thursday press release that he will re-introduce his intrastate online gaming legislation on Aug. 25.
Lesniak plans to tweak the bill, which Governor Chris Christie vetoed earlier this year, in order to “pump over $200 million of profits into the casino industry, add tens of millions of dollars to the state treasury and provide a bridge to self sufficiency for three years through purse enhancements to keep the horse racing industry alive.”
“We have to give [the horse racing industry] the tools and support to be relevant in the 21st century, and by authorizing intrastate online betting, we can provide access to a gaming product which other states have yet to capitalize on," Lesniak said. "We need to act now, before more of our state’s horse farms or casinos close their doors forever. [Online gaming] can be a temporary savior until we get sports betting at our casinos and racetracks.”
Christie’s previous look into the legislation found disagreement with the temporary purse subsidies for the racing industry coming from state revenues produced from Internet gaming, rather than casino profits.
Lesniak said that according to an Econsult analysis conducted last year, online gaming could produce between $210-250 million in gross profit for New Jersey casinos each year, resulting in $47-55 million in state tax revenue, and creating between 1,500-1,900 new jobs.
“We have to start fighting for jobs and revenues here in New Jersey, and tell out-of-state gaming interests to pound salt,” Lesniak said. “We cannot kowtow to out of state special interests at every turn when New Jersey’s own economic well-being is at stake. Governor Christie raised some concern with the original online gaming legislation, and I’m willing to work through those concerns, but it’s time to quit giving out-of-state gaming conglomerates with a vested interest in the status quo the ability to dictate policy in the Garden State.”
Copyright © 2001-2024
CardPlayer.com. All rights reserved.
