New Jersey hopes that Online Gambling can save Atlantic City

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There’s no denying that Atlantic City has gone downhill in the past five years. In fact, the United States’ second biggest gambling hub has lost over a quarter of its revenue from 2006 to 2010. Seeing as how one of the biggest draws to New Jersey is suffering big-time, NJ lawmakers are hoping that they can revitalize the city with online gambling revenue.

Of course, there are still a few measures that need to be passed before legal online gambling in New Jersey is a reality. The New Jersey State House has already passed a measure to allow online gambling in the Garden State while all eyes are currently on Governor Chris Christie to sign the bill into effect. A signature by Christie would make legal internet gambling official by giving the bill a two-thirds majority.

Even if Christie vetoes the bill, it could still pass through approval by the State Senate. However, it’s been speculated that Christie will sign the bill into effect since he’s spearheaded the effort to improve Atlantic City. With every major casino suffering in Atlantic City, legalized online gambling may be exactly what the state needs to turn things around.

The internet gambling bill was first proposed last year by Senator Raymond Lesniak, and he estimates that legal internet gambling would create between 20,000 and 50,000 new jobs for New Jersey. He also believes that the new industry would add an additional $200 to $472 million in revenue for the Garden State.

Lesniak thinks the bill would go a long way to revitalizing Atlantic City as he said, “Legislation I have introduced, S-490, to authorize internet gaming from servers located in Atlantic City needs to get moving now. It will produce more revenue for reinvestment in Atlantic City, much needed revenue for the state, keep our valuable racing industry alive, and create thousands of jobs for our residents.”

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