At the conclusion of the three separate Gaming Summits in New Jersey aimed at finding ways to revive the struggling gaming and entertainment industry, NJ Democrats are now proposing a new legislative framework that will rescue the state’s horse racing industry and establish New Jersey among the world leaders in online gaming. At least, that’s the plan.
The Democrats believe that cutting the red tape to allow more off track wagering sites, and the introduction of legal intrastate internet gaming would be enough to save the racing industry and they beleive the revenue gained from this proposal will back them up. Senator Raymond J. Lesniak opined that internet gaming and sports betting would serve to bring in millions and bolster the resurgence and long-term survival of both Atlantic City and the state’s horse-racing facilities. So for once, a happy compromise.
The proposal would also legalize intrastate internet gaming through Atlantic City’s casinos, and as far as the contentious issue of sports betting, they’d leave that up to the voters to decide. The Democrats proposals call for streamlining operations at both the Meadowlands and Monmouth Park racetracks to cut operating costs, and make provisions for experimenting with new kinds of wagering to bring in more money. In addition, they’ve suggested the opening of more off-track betting locations in an effort to keep horse racing alive in New Jersey, an industry that continues to lose money despite several failed measures and injections of capital.
Already legislation is being drafted incorporating these new proposals, the only question remaining is whether the governor will actually sign it.
