The New Jersey Senate has overwhelmingly voted for a bill to allow online casino gambling in the state. Senator Raymond Lesniak is the sponsor of Bill S-490 which was approved with a 29-5 majority in the Senate.

The bill allows the casinos in Atlantic City to launch online versions of their casino games to customers in New Jersey, but also international customers. Now the proposal is approved by the Senate and moves to the Assembly for consideration. Senator Raymond Lesniak said: “It would generate millions of dollars in private revenue and would give casinos a new product to capture gaming dollars from tech-savvy gamblers. Right now, internet gambling is taking place, and the funds are going to offshore operators. It’s time that we give casinos the authority and the tools to keep these funds in the Garden State. The proposal also provides at least 35 million U.S. dollars in annual tax revenue.”

Internet gambling bill S-490 will, if implemented, tax 20% of annual gross gambling revenue. This makes it possible to reach 250 million U.S. dollars in gross revenues from casino gambling and $ 55 million in tax earnings. These figures will only be larger by the addition of international clients. Senator Richard Codey’s bill S-829 which would establish a betting system in the state was also approved by the Senate by a 34-1 vote in favour of the bill. Both bills were approved by the Senate as a package aimed to safe the weakened horse racing and casino industry in the state.