New Jersey Receives an Influx of Applications for Online Gaming

Admin. - August 1, 2013

Legal Politics

Casinos in New Jersey flock to apply for online gaming licences.

Internet gambling will soon be a new reality for residents of the state of New Jersey. News that the state is all systems got to legalize online gambling within its geographic boundaries has seen a flurry of activity from land-based casino applying for their licences.

In total, some 37 applications have already been received, inclusive of 3 companies that were previously licensed by New Jersey.

The names of the casinos applying for online gaming licences have not yet been released. In total, some 12 casinos have made clear their intention to team up with online gaming providers. As the legislation moves forward, the number of applications is set to spike, according to director of the division of gaming enforcement, David Rebuck.

Three States Legalize Online Gambling

New Jersey is but one of three states that it is moving full steam ahead to capitalise on revenues from online gaming activity within its boundaries. The others include Nevada and Delaware. It is expected that the introduction of online gambling activity may begin between 3 and 9 months from the 26th February legislation that was passed.

Some of the online gaming providers looking to capitalize off this newly passed legislation include 888 Holdings plc, which is partnered up with Caesars Entertainment Corporation. The Borgata hotel is linked to Bwin.Party Digital Entertainment Plc.

Massive Revenues Expected

Deutsche Bank Securities Inc expects the online gambling market in New Jersey to be anywhere between $50 million and $275 million. Expectations are high, given that big industry players and high demand have been factored into the equation.