New Jersey Senate Panel Approves Bill To Allow Foreign Online Gambling Companies To Do BusinessMeasure Allows New Jersey To Offer Online Gaming In Other Countries |
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A New Jersey Senate panel has approved a bill that would allow foreign online gambling operators to base their operations in the state. Once licensed and partnered with an existing Atlantic City casino, the companies could then offer gambling, as well as online poker, in countries where it is legal.
The measure, introduced by Sen. Ray Lesniak, has a chance to revitalize struggling Atlantic City as an online gaming hotbed.
“This could help make New Jersey the leader in online gaming, across the country and around the world,” said Lesniak in a statement. “We could be the Silicon Valley for high-tech gaming.”
Any products offered by these foreign operators would also be subject to New Jersey’s existing 15 percent tax rate, minus any taxes given to other countries for their resident’s play.
New Jersey recently revised their online poker market projections from the online gambling industry and is now on pace to collect $34 million in tax revenue. Any business brought in from off-shore operators would only help to improve those numbers.
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