You would think that Atlantic City Casinos now have much to smile about, as the New Jersey Senate State Government, Wagering, Tourism & Historic Preservation Committee finally passed an amended version of the S490 legislation with a 3-1 vote.
This legislation would finally allow the casinos of Atlantic City to provide online extensions of their gambling operations, tapping into the Online Gambling industry.
However, in a surprising turn of events, the Casino Association of New Jersey (which is the trade organization representing the casinos) has released a statement in which they voice their opposition to the legislation.
All of the eleven casinos represented through the CANJ have taken a stance, presenting their dissent in a letter sent to the chairman of the Regulatory Oversight and Gaming Committee, Mr. John Burzichelli. The CANJ has been prodding the Mr. Burzichelli and his Assembly to shoot down the legislation, and not cast any votes in its favour until further points of guidance can be had from the Attorney General.
The president of CANJ, Mr. Joe Corbo, has stated that the Association is intent on finding a “viable business model to deal with some forms of Internet gambling, but it is very clear that the federal government must take the lead on this issue."
It appears that the primary concern raised by CANJ, is that a green light to operate online would create a dramatic undermining of the prestige of Atlantic City as a gambling destination. The implications is that the brick and mortar operation of casinos in Atlantic City may see a serious dent in their turnover, as a result of internet gambling.
The legislation itself is not yet in force, as the NJ legislation session is set to end in late 2011, thus giving the Assemblies a substantial amount of time yet to find a solution that caters to all parties involved in the dispute.