It’s no secret to anyone that the NJ iGaming industry is a profitable one. In fact, if you remember last years figures reached $245 million. There’s no doubt that a 25% YOY growth is impressive. Some even say that 2018 will be even more impressive given the new projects that are on the way. One would think that everyone would love these figures. Especially since the garden states impose a 20% tax on them.
But it’s not the case.
If you remember, last November Senator Feinstein and Senator Graham, wrote a letter to the Congress. Indeed the pair asked the Senate to determine the legal status of gambling in NJ. Of course, this letter surprised many given the positive impact iGaming had on NJ. The primary
concern that Feinstein and Graham had, was the accessibility of online casinos. In fact, they believe that every phone or computer has the potential to be turned into a casino that is opened 24/7.
Some believe that the 2 Senators concerns are too conservative.
It’s the case for several Republicans and Democrats who’ve teamed up to write a letter in favor of iGaming. Indeed, last Thursday the Department of Justice received a letter in reaction to Feinstein and Graham asked. In the letter, the lawmakers asked the Deputy General Attorney to not rescind their legal opinion from the 2011 Wire Act. It’s worth knowing that its this act that made gambling legal by the Federal Government.
Will Senator Feinstein and Graham letter have any impact?
In our opinion, the letter sent my the 2 senator is likely to have little impact on the status of iGaming. Especially given the fact that NJ was able to prove that iGaming does not create more addiction. We think that based on the Senators comments some lawmakers may consider (at worst) to impose opening hours. But, we think its very unlikely given that Atlantic City is finally thriving thanks to the iGaming industry.