AGA Pleased with New Jersey Online Gaming RegulationPublished January 17, 2014 by OCR Editor
AGA President Geoff Freeman praises New Jersey after the release of its first report on online gaming.
Last week the New Jersey Division of Gaming Enforcement released its first report on online gaming activities in the state which details the revenue gains for the Garden State in the first six weeks since the online gaming business was put in motion. The report has shown that NJ has generated revenue gains of $8.4 million which is slightly lower than the $10 millions analysts predicted.
AGA Pleased with Results
The American Gaming Association's (AGA) president and CEO Geoff Freeman issued a statement in which he commended New Jersey's online gaming regulation, which Freeman called "effective". Freeman praised New Jersey for responding to consumer demand for gaming entertainment "in an innovative fashion". According to Freeman, NJ authorities created a safe and secure environment with strict regulatory controls and consumer protections. Since this online marketplace was opened in late November 2013, the more than 150,000 accounts which were created have undergone rigorous review.
Freeman believes that New Jersey's online gaming structure is likely to serve to strengthen the economic contributions to which land-based casinos have already contributed; this will be achieved by increased tax revenues and the creation of new jobs. Freeman concluded that the New Jersey experience is a testament to the power of effective online gaming regulation, and that in retrospective the move into online gaming will be viewed as both positive and pivotal for the gaming industry as a whole.
The AGA's Plight for Regulation
Operating since 1995, the AGA is the largest and most important gaming lobbying group the United States. In a testament given by Geoff Freeman to Energy & Commerce Committee earlier in December, Freeman pointed out the benefits of regulating online gambling, which include the creation of over 22,000 jobs and over $25 billion in tax revenue.