New Jersey lawmakers agree five-year igaming legal extension
Garden State legislators pass bill extending legal window to Governor for final signature
Assembly members and Senators in New Jersey have voted through legislation extending the Garden State’s legalization of igaming for a further five years.
Meeting on Friday (June 30), the New Jersey Assembly voted through Assembly Bill A2190 by a count of 37 votes to nil, with Senators already having voted through Senate Bill 3075 earlier last week.
In the case of SB 3075, it was substituted for the Assembly Bill and will now pass to Governor Phil Murphy for signing into law.
An existing law passed in 2013, which provided the state with a 10-year window to operate igaming, is due to expire in November, with the state initially looking to extend it for a further 10-year period.
However, the legislation for this hit the skids on Tuesday (June 27) when an Assembly panel cut the extension period down from 10 to just two years without explanation, drawing criticism from many quarters, including trade unions, which decried the change as leaving operators without a long-term strategy.
Later, on Wednesday (June 28), the panel further changed the legislation, again without explanation, to a revised term of five years.
In comments reported by the Associated Press, the Chamber of Commerce Southern New Jersey, which had vehemently opposed the change to two years, expressed its relief that a five-year extension was on the cards.
“The Chamber of Commerce Southern New Jersey is incredibly pleased that the General Assembly shifted away from a drastic and unexpected two-year internet gaming reauthorization through 2028,” the group said in a statement.
“Although not the 10-year window the bill’s sponsor originally intended, this adjustment still allows for the sports betting industry to grow and thrive in New Jersey with a five-year security in its operating ability,” it added.
The Garden State is one of just seven states to legalize igaming, with West Virginia, Nevada, Michigan, Pennsylvania, Delaware, and most recently Rhode Island, all following its lead.
Fiscal estimates released as part of A2190 have claimed the state could make up to $170m in financial year 2024, rising to $305.1m in 2025, and $320.2m in 2026 from the extension.