Casino industry trade show to address sports betting ruling

Game On! Legislature Approves Sports Betting in New Jersey

Thursday's unexpected development is the latest chapter in New Jersey's seven-year fight to legalize sports betting.

All eyes are on Gov. Phil Murphy now that the state Assembly and Senate unanimously passed a bill on Thursday to allow sports betting three weeks after winning a U.S. Supreme Court case that cleared the way for them and all other states to do so. It allows betting on all professional sports, but it bans betting on collegiate athletics that take place in New Jersey or on college teams from New Jersey, like Seton Hall or Rutgers.

The remarks come a day after both houses of the state Legislature voted overwhelmingly to pass the bill, which would regulate and tax such wagering online and in person at the Garden State's casinos and racetracks.

However, GAN has moved to allay concerns over the matter, saying that it has investigated the issue with its clients and does not now expect any impact on its plans to launch sports betting.

Game On! Legislature Approves Sports Betting in New Jersey

There is a condition to this, of course, which claims that sports events on an worldwide level in which players under the age of 18 are a small part of the participants are still going to be able to see bets being placed.

"Governor Murphy looks forward to closely reviewing the sports betting legislation that was recently passed by the Legislature", said his spokesman, Dan Bryan.

The company plans to use the proceeds to strengthen its software engineering resources in order to better serve existing customers in the country. He technically has 45 days to act on the NJ sports betting legislation, although it's not likely to take anywhere near that amount of time to gain his signature.

"I'm gonna wait", Drazin said. But when the wagering can begin and the money start changing hands is anyone's bet: The bill is now with Democratic Gov. Phil Murphy, whose office won't say when he might act on it.

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Delaware, which already had limited sports wagers, rolled out full-scale betting on Tuesday. The Borgata in Atlantic City also has said it will begin taking wagers as soon as the regulations are put in place.

Fertitta owns the NBA's Houston Rockets, and would have been shut out of sports betting under previous versions of the bill.

The bill contains none of the fraud-fighting measures requested by professional sports leagues, including real-time game data sharing with casinos and state regulators, as well as fees to the leagues to help pay for expanded monitoring and investigations.

The bill would allow casinos and racetracks to offer land-based wagering immediately. A provision also would allow it at the former Atlantic City Race Course if that facility were to reopen. The bill set the tax rate for casinos at 8.5 percent, with an additional 1.25 percent payment to help market Atlantic City.

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The New Jersey Racing Commission has written to the state's three horse tracks warning them not to start taking sports bets until the bill is signed. The 1.25 percent add-on fee for tracks would be split among the host community and the county in which the track operates.

But the change allows him to offer bets on other sports except for basketball.

That would have affected the Golden Nugget, which is owned by Tilman Fertitta, who also owns the Houston Rockets of the National Basketball Association. A similar bill was introduced Monday.

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