New Jersey State Senator and online gambling advocate Ray Lesniak would like to pass a state law that would allow foreign online betting firms to be licensed and regulated in his home state, this coming from a press conference that the Senator held last week.
Senator Lesniak announced that he plans to introduce a bill that would allow for that to happen, potentially opening up New Jersey's just launched internet gambling industry to even broader potential. The bill would allow for companies regulated and licensed in New Jersey to offer their services to players in other countries. American players would be unable to play at those casinos under current federal law.
Under Lesniak's proposal, casinos would pay a 15% tax on winnings, plus put payments toward a $20 million annual fund to help the ailing New Jersey horse racing industry.
Speaking to reporters during the press conference, Lesniak said: "This could make New Jersey the leader in online gaming. We are well-positioned to take advantage of a dynamic opportunity to be at the hub of a new business sector with the potential for economic growth and job creation."
"Internet gaming is a worldwide industry. There's no reason why we shouldn't be a part of it."
Adam Ozimek, an Economist and Director of Research at Econsult Solutions voiced support for the bill, saying it could create between 4,700 and 7,900 jobs and create billions of dollars in fresh tax revenue.
New Jersey is the latest state to legalize and regulate intrastate online betting for its residents, and is currently operating a soft launch to test the industry's infrastructure before hopefully going live on November 26th.
Casino Listings will update this story as more developments arise.