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Legalized internet gambling in the Garden State has become a reality, as the amended bill that Governor Chris Christie demanded changes to has breezed through the state's legislature and was signed into law.
Christie had conditionally vetoed the initial bill on February 7th, noting that he wanted a ten year trial period and a tax rate increase for cyber gaming operators. Those conditions have all been agreed to by the state's politicians, and the bill was signed into law by the Governor late Tuesday.
Commenting on the bill's passage internet gambling proponent and New Jersey State Senator Ray Lesniak said: “Finally, some good news for Atlantic City's future. Internet gaming will give an immediate boost to the outlook for Atlantic City's future, preventing the closing of at least one casino, and saving thousands of jobs. Now we can get to work making Atlantic City the Silicon Valley of Internet gaming by being the hub for other states to join."
Some industry analysts believe that internet gambling in the state could become a $1.5 billion industry within five years. It is believed the move will also help stimulate the struggling Atlantic City economy, as all internet gaming operators must also have a land casino presence in the shoreside gambling destination.
With the move, New Jersey joins Nevada and Delaware as being the first three states in the union to legalize some form of internet betting.