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The State of New Jersey Approves Online Casinos

by Bidita Debnath on March 3, 2013 at 8:25 PM
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 The State of New Jersey Approves Online Casinos

The state of New Jersey approved the establishment of online casinos after Gov. Chris Christie signed into law a bill that the two state legislative chambers had approved earlier.

The final text of the law limits the activities of the internet casinos to players located within New Jersey's borders, albeit with certain specific exceptions, increases the taxes on the casinos' online winnings from 10 to 15 percent and establishes a 10-year trial period for internet gambling.

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Christie said at the signing ceremony that the economic benefits of the measure had been carefully examined with an eye toward the risks of "addiction and corruption".

The measure is considered to be support provided by state authorities for the casinos in Atlantic City, New Jersey's gambling center, where several of the main casinos are struggling with serious a financial situation due to loss of revenues, as local media have reported in recent days.

New Jersey thus becomes the third US state to legalize online gaming after Nevada and Delaware.

Source: IANS
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