New Jersey legislators are crafting a bill to permit casinos licensed in Atlantic City to function online casino gambling within the state.

New Jersey lawmakers continue to work on a possible state constitutional amendment that will regulate intrastate online casinos in an try to get the problem at the November ballot. State Senator Ray Lesniak says the law could be a part of the required moves to slow the flow of gaming dollars out of latest Jersey to alternative gambling venues and sites.

Atlantic City casinos are in a declining spiral of revenue that has already lasted over two years. Struggles within the gambling industry because of the recession was compounded by the increased competition, both from neighboring states and online casinos.

"There are billions of bucks of gambling money that we're leaving at the table," said Lesniak. "NOW WE HAVE time to get this right and craft a constitutional amendment for you to maximize revenues for the state and for our tourist destinations."

Despite implementation of the UIGEA, New Jersey is perfectly within its rights to regfulate and license Internet gambling, so long as both the casino and customer can be found within the state. The proposed measure would give online casino rights to the casinos licensed to function in Atlantic City, permitting them to reach beyond the walls in their resorts to acoop up gambling dollars.

Lesniak may be pursuing a sports betting bill, but that amendment could also be stickier, as federal law forbids a state to legalize sports gambling. Lesniak is suing to have the law stricken for the reason that it gives favorable treatment to Nevada over other states.

Published on June 21, 2010 by VirginiaMaddox

Read More... [Source: Atlantic City Casino News]