New Jersey's International Plans Move Forward (update)

Lesniak bill gets state Senate committee approval

New Jersey Senator Ray Lesniak's plan to encourage the licensing and regulation of foreign online gambling companies by the Atlantic City regulator, the New Jersey Division of Gaming

Enforcement, moved a step closer to realisation Monday when the Senate Government, Wagering, Tourism and Historic Preservation Committee approved the bill.

Lesniak introduced the measure, which seeks to provide credible regulation for foreign firms without permitting them to access the American market, last year (see previous InfoPowa reports) in a bid to widen the New Jersey hosting and regulatory sector.

Under its provisions, foreign gambling firms in the remote gambling industry who license in New Jersey would pay the same 15 percent tax that New Jersey's casinos do on Internet revenues. An earlier provision calling for applicants to contribute to a fund designed to raise $20 million a year for the state's ailing horse racing industry has since been removed.

Supporting the bill, state Senator Jim Whelan said: "This gives Atlantic City the opportunity to build and expand on its casino business."

Online Casino News Courtesy of Infopowa

More news

here.