Sen. Ray Lesniak Wants Global Online Gambling For New Jersey
With only a week to go to the much anticipated launch of online gambling in New Jersey, there’s some more positive news coming from the Garden State. A longtime supporter of online gambling Sen. Ray Lesniak has announced that he will be introducing a bill that would permit New Jersey licenced online gambling operators to take international bets wherever it is legally possible to do so.
This proposed bill is well thought out as it could make New Jersey the gambling mecca that Lesniak wants it to be. It would also put New Jersey along other global regulatory hubs like that of Gibraltar, Isle of Man and Alderney who all enjoy relaxed online gambling regulations. According to the latest reports Sen. Lesniak is set to unveil his proposed bill at a press conference in Thursday which coincides with the trial launch in New Jersey.
In terms of the bill the New Jersey Division of Gaming enforcement (DGE) would issue Restricted Foreign Internet Wagering (RFIW) Permits that would enable licenced operators to offer online gambling in any country where it is legal to do so.
What makes this bill so interesting is the fact that it is likely to get approval from lawmakers as it would not affect Atlantic City casino operator’s revenues. Those seeking a RFIW licence would also taxed 10% of gross gaming revenue which would go to a fund benefitting the New Jersey horseracing industry. The initial fee for RFIW operators would be $200k and thereafter renewals would cost $100k.
Sen. Lesniak also reacted to the news of Sheldon Adelson’s latest anti online gambling tirade and cynically remarked about Adelson’s “concern” for the negative impact internet gambling could have. Lesniak said that a federal ban on online gambling would lead to thousands of job losses as well as millions lost to offshore gambling operators. He went on to “suggest” that Adelson have a look at what really affects innocents in gambling being that of lottery sales.
This latest development in New Jersey could have far reaching ramifications should the lawmakers approve the proposed legislation. It is worth remembering that with the British government’s planned crackdown of tax havens like Gibraltar, New Jersey could be an excellent alternative to major online operators to set up shop.