New Jersey Regulators Lay Out Online Casino Timeline
The state of New Jersey may have lost the race with Nevada to become the first in the US to operate a regulated online casino, but that does not mean the state is far behind. This weekend, New Jersey regulators announced the timetable for the next couple of steps in the licensing process.
June 30th will be the date when casinos will have until if they want to submit requests for online permits. The permit only allows the casinos to partner with gambling companies to then apply for an Internet gaming license.
Over the past year, Atlantic City casino companies have begun partnering with foreign and US-based online casino technology companies. The hope is that by bringing in companies that have been serving online gamblers overseas, regulators will be more apt to approve licenses in New Jersey. Regulators, however, maintain that they will be cautious about who receives the licenses.
"The Division of Gaming Enforcement is fully committed to a robust Internet gaming system in New Jersey that promotes public confidence in the effectiveness and integrity of the regulatory process and oversight of gaming operations," said DGE Director David Rebuck.
Nevada has already launched an online casino in beta mode. Sin City is expected to become the first in the nation to have fully operational online casinos later this summer.
New Jersey has set a soft deadline of November 26th to have online casinos up and running. Several of the 12 AC casinos are expected to be open by that date, while others may wait a few months longer before they implement their online operations.
New Jersey lawmakers have been searching for ways to revive a dwindling gaming industry in Atlantic City. In addition to the new Internet gambling, AC casinos may soon be permitted to open sports books. Online gambling and sports betting are both multi-billion industries worldwide. It is estimated that AC casinos could bring in $2 billion annually through their online casinos.