A few weeks ago, voters in New Jersey decided not to approve a proposal for new casinos in the state. The proposal suggested building more casinos outside struggling Atlantic City in an effort to attract more tourists. With this idea falling through, lawmakers in New Jersey are turning to online gambling.
One of a few states to have regulated online gambling, New Jersey has necessary foundations to expand the industry further. State legislators hope to achieve this through a new bill which would popularize online gambling.
Setting Up Designated Online Gambling Areas
The new proposed bill would allow currently existing casinos to partner with two racetracks, namely Meadowlands Racing in East Rutherford and Monmouth Park in Oceanport. By partnering up, casinos would be given designated areas inside these racetracks where players could access online gambling offers.
Mutually Beneficial Idea
If passed, this bill would be beneficial to racetracks and online casinos alike. Horse racing industry in the state has been experiencing a decline. By offering new contents, they could experience a much-needed boost in revenues.
For online casinos, on the other hand, this is a great opportunity to legally offer their services inside the racetracks. By doing that, they stand to expand their player base and also entice the existing players to play more.
Another Blow to Atlantic City?
When the bill to introduce new casinos in New Jersey flopped, it was an important break for Atlantic City. The gambling industry in the city has been experiencing a major decline, and many once prosperous casinos had to shut down. When people voted against introducing new casinos, AC was at least safe from the competition within the state.
However, Anthony Marino, a market analyst, believes this new bill could also adversely impact Atlantic City business. Marino believes the presence of online gambling facilities inside the racetracks would further decrease foot traffic in Atlantic City casinos.
Although this bill wouldn’t have an effect as detrimental as the referendum proposal, anything driving away customers away from the resorts is bad at this point in time. With Atlantic City struggling to make ends meet, every customer counts and every wager is worth more.
This bill is still in its early stages, so we’ll have to wait and see what will become of it. While it would certainly increase the overall gambling intake for the state, it could also administer a fatal blow to Atlantic City, so there is a lot to consider.