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New Jersey state senator Raymond Lesniak, co-author of bill number 2578 to legalize online gambling within the state’s borders, was expected to act fast to address Governor Chris Christie’s concerns. The Governor enacted a conditional veto on Thursday whereby the bill is being sent back to the Assembly.
Christie wants the state to review online gambling after 10 years. He also wants the casinos' tax rate on Internet winnings raised to 15 percent, up from 10 percent.
Lesniak (D-Union) said the Legislature will move swiftly to concur with Christie's recommended changes and pass the amended bill by March 18.
Lesniak said the enactment of Internet gaming will be a watershed moment for Atlantic City.
"It's huge," Lesniak said.
Lesniak said he expects the Legislature to agree to both of Christie’s requests.
"It may have a competitive drawback when we market other states to tie into our systems, but we'll have to evaluate that at the time and if it does we could always change it," he said.
As for the sunset clause, Lesniak said he thinks it provides a long enough time horizon to spur investment.
"If it were five years, I think it would have been a concern," he said. "Ten years will make investment very attractive."
- Chris Costigan, Gambling911.com Publisher
