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Estimate For New Jersey Internet Gambling Revenue Could Be More Than $1 Billion: Report

State's Casinos Bring In More Than $3 Billion Annually Already

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It’s still really early in the game, but some are predicting a huge Internet gambling market to be created in New Jersey, once regulators and businesses get everything in order.

According to NewsRoomNewJersey.com, the state treasurer has said that Internet gambling could bring in a whopping $1.2 billion, with state tax revenues reaching $180 million in its first fiscal year of gamblers placing online wagers. Regulations for the Internet gambling industry there are reportedly expected out sometime late this year.

Officials reportedly are skeptical of such a high estimate. Others have predicted much less.

Atlantic City has been slumping mightily ever since 2006. Gov. Chris Christie legalized online gambling in February of this year after a long and tough fight in the legislature. Lawmakers had been trying to get the activity authorized for years.

The legalization of Internet gambling could be huge for PokerStars, which is close to buying a casino in Atlantic City. The hope is that players from foreign and domestic jurisdictions could join in on the party, creating even bigger revenues for the state.

The only other states with legalized online poker are Nevada and Delaware. Their respective industries are expected to kick off sometime this year.

For more info and news from New Jersey, check out its stage page.

 
 
Tags: New Jersey,   Gambling,   Casinos