Casino City's North American Gaming Almanac - 2022-2023 Edition Sample Pages

United States New Jersey Casino City’s North American Gaming Almanac 565 legislature – and governor – will have to reauthorize the right for operators to offer online gaming in 10 years. The legislature amended the bill with Christie's changes, and the bill became law. Christie vetoed a different version of this bill in 2011, citing "legal and constitutional concerns" that the bill violated New Jersey's Constitution, which only permits casino gambling in Atlantic City, and his opposition to supporting the horse racing industry through funds generated by online casinos. The new bill resolved both of the issues by removing the provision of $30 million in racing subsidies and obtaining expert opinions that as long as servers were based in Atlantic City, the Constitution wouldn't be violated. Additional legal support came late in 2011, when the U.S. Department of Justice announced that the Wire Act only applied to sports betting. This new interpretation of the Wire Act cleared the way for states to pursue intrastate online gaming without fear of federal prosecution. The bill tasked the New Jersey Division of Gaming Enforcement with creating standards for software and equipment used for Internet gaming. Casinos are required to verify that players are physically located in New Jersey. In May 2013, the Division of Gaming Enforcement announced proposed regulations for online gambling. In the draft, an initial $400,000 internet gaming permit fee would be required of the licensees, as well as an annual license fee of $250,000. In June 2013, the New Jersey Division of Gaming Enforcement wrote to the 12 land-based casinos in Atlantic City, telling them they would be given until 30 June to arrange supplier deals to provide online gaming. After the deadline, regulators would examine and review the qualifications and backgrounds of the companies partnering with the Atlantic City casinos. In response to the comments made on the May 2013 regulation proposal, New Jersey regulators formulated changes aimed at enhancing players' protection while playing via remote gambling sites. In September 2015, the Division of Gaming Enforcement approved a partnership between Amaya Gaming, parent company of PokerStars, and land-based casino Resorts AC. The approval cleared the way for PokerStars to re-enter the U.S. online poker market for the first time since Black Friday in April 2011. PokerStars launched for real-money play on 21 March 2016. New Jersey officials had hoped online gaming would generate about $180 million of tax revenue per year. In the first 27 months, the sites contributed a total of only $45.5 million to the state coffers. However, the state continued to see revenues increase on a monthby-month basis. In August 2017, Gov. Chris Christie signed into law A 3532, which legalizes and regulates daily fantasy sports. In July 2018, New Jersey joined the player liquidity pool for online poker with Delaware and Nevada, but the numbers for the remainder of the year remained modest. Regulated sports betting in both online and in brick-and-mortar casino properties started in mid-June 2018. The first FanDuel Sportsbook also opened in July. Currently over 40 sites offer online gaming in New Jersey. Online Gaming Revenue Revenue in Millions 2017 2018 2019 2020 Revenue in USD 245.61 298.70 482.70 970.34 Revenue Change 16.21% 21.62% 61.60% 101.02% Inflation Adjusted 279.34 331.56 526.05 1,044.87 Inflation Adj. Change 13.72% 18.70% 58.66% 98.63% Period USD1 USD 2021 Nov 2013 980,165 1,172,496 Dec 2013 7,388,672 8,839,269 Jan 2014 9,461,057 11,276,522 Feb 2014 10,307,086 12,239,654 Mar 2014 11,878,374 14,015,283 Apr 2014 11,428,737 13,440,476 May 2014 10,469,933 12,270,050 Jun 2014 9,505,578 11,119,171 Jul 2014 10,070,262 11,784,316 Aug 2014 10,547,458 12,363,402 Sep 2014 10,248,370 12,003,774 Oct 2014 9,484,931 11,137,559 Nov 2014 8,738,898 10,317,257 Dec 2014 10,736,118 12,747,443 Jan 2015 11,567,337 13,799,321 Feb 2015 10,404,367 12,358,303