Category Archives: New Jersey

New Jersey residents can now gamble on the run thanks to DraftKings

New Jersey fantasy sports fans now have the ability to bet while on the go. Major fantasy sports provider DraftKings announced last Wednesday the release of a new mobile app, becoming the first company to introduce mobile sports betting in the state.

New Jersey residents can now gamble on the run thanks to DraftKingsThe app, DraftKings Sportsbook, allows users to place sports wagers from any point within the state’s boundaries during an initial invite-only period. Anyone in The Garden State can sign up directly through DraftKings’ website.

This is certainly only the first mobile app of many that will come to market. Sports gambling is going to prove to be a highly competitive industry, and many casino operators, bookmakers, technology companies and even professional sports leagues are looking to capitalize on the excitement. Those that can offer the most access with the least amount of barriers will pull ahead of the pack early on.

The introduction of mobile sports betting is also seen as key to help propel legal betting ahead of off-shore betting, which has reportedly attracted as much as $150 billion in bets. The push by New Jersey to legalize sports betting, in part, relied on this argument when presenting its case to the U.S. Supreme Court, which ultimately agreed with the state’s position.

While several states have already worked feverishly to introduce legalized sports gambling, some aren’t as anxious. Rhode Island, for example, adopted legislation in June to authorize sports betting, but isn’t expected to introduce any platforms until October at the earliest. Even then, there have been no provisions to allow either mobile or online gambling. Only West Virginia, after New Jersey and Nevada, is preparing to allow mobile sports gambling across the state in the foreseeable future.

DraftKings was able to introduce its mobile platform through a partnership with the Resorts Casino Hotel in Atlantic City. Per New Jersey law, mobile gambling providers must be tied to either a casino or a racetrack in the state that currently operates a sportsbook. The initial DraftKings Sportsbook invite-only period fulfills a requirement by New Jersey’s Department of Gaming Enforcement for operators to conduct a soft-launch period prior to receiving full regulatory approval.

Current DraftKings users can log onto the mobile platform with the same registration information used for the company’s other offerings. The mobile app includes different types of betting and allows users to exit a wager if they change their minds.


Source link

Delaware silently preparing for US sports betting D-day

Aside from New Jersey, other states are gearing up to cash in on legalized sports betting, assuming the U.S. Supreme Court decides to strike down the Professional and Amateur Sports Professional Act of 1992 (PASPA).

Delaware silently preparing for US sports betting D-dayDelaware is preparing to roll out its professional and out-of-state college sports betting offerings should the high court decide in favor of New Jersey’s petition, Delaware Online reported.

State Finance Director Rick Geisenberger said Delaware may be able to introduce single-game betting on professional sports within weeks after the Supreme Court issued its ruling, which could come as early as June.

At the moment, Delaware’s offerings are limited to parlays or multi-game betting on football.

“If we can get to market faster than some of our neighbors there could be some real upside,” Geisenberger said, according to the news outlet. “We’re working to roll it out as quickly as possible.”

Meanwhile, state lottery director Vernon Kirk said the tentative plan of the Delaware Gov. John Carney’s administration is to initially confine betting on NFL, NBA, NHL, major league baseball and out-of-state college sports teams to the state’s three casinos.

Unlike New Jersey, Delaware doesn’t need legislative action to begin offering sports betting since the state is one of the four states exempted from the 1992 nationwide ban on sports gambling.

Kirk, however, said they will let their lawyers have a second look at the law even though they believe that the state “doesn’t need to return to the [General Assembly to institute full scale sports betting].”

If the Carney administration’s plan pushes through, sports betting will provide a much needed financial boost to the struggling Delaware Park, Dover Downs Hotel and Casino, and Harrington Raceway, according to the report.

New Jersey wants to allow sports gambling at its casinos and race tracks, and to collect taxes from it. At least 10 other states say they’re ready to allow sports betting if New Jersey wins.

The push for legal sports betting in the United States received a boost during an early December hearing after a majority of the Supreme Court justices appeared to agree with New Jersey that PASPA violates the U.S. Constitution’s protection of state’s rights.


Source link

Glenn Straub brings New Jersey to court over PILOT casino program

Florida-based developer Glenn Straub is suing the state of New Jersey for what he calls an unfair imposition of property tax on Atlantic City’s shuttered Revel Casino Hotel.

Glenn Straub brings New Jersey to court over PILOT casino programThe Press of Atlantic City reported that Straub questioned New Jersey’s PILOT program before the Atlantic County Superior Court on October 14, complaining that the state sent him a tax bill $3 million higher than it should be.

“It’s crazy,” Straub said of the PILOT, according to the news report. “It’s not a casino, because the state says we need a license. They are penalizing us millions and millions of dollars.”

Under the New Jersey’s casino payment in lieu of taxes (PILOT) program, casinos will have to shell out $120 million this year instead of property taxes. The program was intended to bring balance to the wobbly New Jersey’s tax collection base amid left and right casino tax appeals.

The city incurred budget deficits as a result of the costly litigation and eventual state takeover.

But Straub, in his petition, argued that it is unfair for him to pay a tax bill that is $3 million more than it should be for Revel, especially since the property was derelict and no longer operating by the time the program was implemented.

Straub purchased Revel at a bankruptcy auction two years ago for $82 million. The property has remained idle since closing in September 2014.

Atlantic City, according to Straub, was asking him to pay $8.3 million in taxes despite not having gaming at the property. Straub contends that he should be taken off the PILOT program since he technically didn’t own the property when it was still a functioning casino.

“The PILOT Act penalizes it by requiring it to pay based on the fact that at one time the property was licensed to operate as a casino, but does not generate the level of revenue as casino properties because no casino operates there and, in fact, never did operate there in the entire ownership period of the plaintiff,” according to the complaint.


Source link

New Jersey introduces bill allowing New Jersey casinos to operate during state shutdown

New Jersey lawmakers are no longer taking any chances that Atlantic City casinos might be forced to close in the event of another state government shutdown due to a budget impasse.

New Jersey introduces Bill allowing New Jersey casinos to operate during state shutdownAtlantic City casinos were almost forced to shut down this week after the state legislature and New Jersey Gov. Chris Christie failed to pass a budget on time.

The casino shutdown was averted after both branches of the state government were able to reconcile their differences before the seven-day leeway given to casinos ended.

To prevent such economic inconvenience, The Press of Atlantic City reported that state Senate President Steve Sweeney and Senators Jim Whelan and Jeff Van Drew introduced a bill seeking to amend the law that allows New Jersey’s casinos to keep their doors open for seven days after state government shuts down.

Whelan, who sponsored the original seven-day law, said the new bill will now let the casinos stay open indefinitely.

“The casinos continue to be the driving force for the economy in the city and the entire region,” said Whelan, D-Atlantic. “Atlantic City is turning around, and to allow the casinos to close now or at any time in the future would be destructive to the lives of the casino workers and their families and would create an economic riptide with negative consequences for the entire city and region.”

Several lawmakers, however, raised their eyebrows over the necessity of the bill, especially since “essential” employees are not affected by the state shutdown.

Christie, according to the report, signed an executive order in 2010 that deemed employees at the Casino Control Commission “essential.”

Still, the governor said Sunday that, through the first reading of the 2008 law, he believed the casinos and racetracks around the state were scheduled to close.

All items must go in Taj Mahal Casino Liquidation Sale

Elsewhere in Atlantic City, National Content Liquidators has started the auction of all items inside the shuttered Trump Taj Mahal Casino Resort, which was once owned by President Donald Trump.

Fortune reported that the chandeliers, sofas, coffee tables, televisions, beds, and even a grand piano were among the offerings up for auction, which started on Thursday. The auction will continue until all the items are gone, according to the government liquidators.

Trump opened up the $1 billion casino in 1990 before it filed for bankruptcy the following year.

Billionaire Carl Icahn, who purchased the casino, shut the business for good after a labor dispute. The property was then sold to Hard Rock International in March for about $50 million.


Source link