I think the growth of the industry has demonstrated the need to keep it in place.
A chief committee of the New Jersey Legislature will meet Thursday to consider a bill that would extend the authorization of online casino gaming and online poker in NJ for another decade.
According to the agenda of the Assembly Tourism, Gaming, and the Arts (ATG) Committee, lawmakers will discuss bill A2190, which was introduced on February 2 and referred to the committee five days later.
The bill calls for amending the state’s gaming law so that authorization for online gaming expires 20 years after it was first enacted. The law currently says authorization expires 10 years after enactment. The market went live in November 2013, so A2190 would extend authorization to November 2033.
Separate legislation enacted in 2018 — specifically, bill A4111 — authorized online sports betting in the Garden State, so sports betting will not be affected by whatever happens with A2190.
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Extension Not Seen As Controversial, Has Bipartisan Support
A2190 is a short bill, only two pages long. It merely calls for extending the authorization of online poker and casino gaming, which have been around for nearly a decade.
The bill also enjoys bipartisan support. Its primary sponsors are Assemblyman Ralph Caputo (D-Belleville) and Assemblywoman Annette Chaparro (D-Hoboken). The bill’s co-sponsors are Assemblyman Don Guardian (R-Atlantic City) and Assemblywoman Claire Swift (R-Margate City).
Caputo, who chairs the ATG Committee, said lawmakers originally passed legislation allowing online sports betting to help casinos in Atlantic City. Nearly a decade later, online gaming has been a vital revenue component for casinos in the city.
“I think the growth of the industry has demonstrated the need to keep it in place,” Caputo told the non-profit news site New Jersey Monitor.
Chaparro serves as vice-chair of the ATG Committee. Guardian is also a member.
There is presently no Senate counterpart to A2190.
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Online Casino on Pace For Record 2022
Revenue from online poker and casino gaming has made a combined $4.8 billion since the markets opened in November 2013. Data from the New Jersey Division of Gaming Enforcement (NJDGE) show that $4.5 billion came from the online casino vertical, while the remaining $234.3 million came from online poker.
New Jersey online casinos had their best year by far in 2021, when the vertical grossed $1.3 billion. That year, the vertical was up 43.3% from 2020, the second-highest year on record at $931.5 million.
But online poker had its best year in 2020, grossing $38.8 million. Revenue was likely given a boost that year by the pandemic. Online poker revenue fell to $29.9 million in 2021 — a 22.8% year-over-year decrease, but good enough for second place overall for the vertical.
According to the NJDGE, online casino revenue totaled $916.1 million through July, the most recent month with figures available. Online poker has made $16.4 million during that timeframe.
At that pace, 2022 will be the best year for online casino revenue since the market launched. But online poker is projected to have its third-best year overall — the vertical is currently on pace to gross $28 million by the end of 2022.
