New Jersey Moves Forward With Foreign Licensing Bill

state of New Jersey logoTowards the end of February a bill was introduced to the New Jersey State Senate. This new bill set out to allow for the Garden State to license foreign online gambling operators and today the State Senate announced that the bill will be moving forward as of Monday, this is because the bill passed through a Committee Hearing.

Senator Ray Lesniak was the one who introduced this gambling related bill. This new bill would give the New Jersey Division of Gaming Enforcement the ability to oversee, license and regulate foreign betting companies that want to operate in their state. This in return will allow for the state to bring in new operators such as William Hill or Ladbrokes.

Every international betting firm that wants to operate in the new USA gambling hub would have to pay a 15% tax rate on all of the betting revenues they earned. Though this may seem like a large amount of money to operators, the amount of profit they would still earn is more than enough to enter the New Jersey Gambling Market.

Senator Jim Whelan took to the media, commenting on this bill stating: “This bill will give New Jersey the opportunity to bring in new operators who wish to expand the casino business we have created. As more states legalize online gambling will be able to make a joint gambling market, if we can license out international operators we shall be able to become the actual gambling hub for the USA.”