UPDATE: Christie Vetoes Gambling Bill, But Points Way Forward
Gov. Chris Christie is expected to decide whether to sign or veto a bill that would make New Jersey the third state in the nation to allow gambling over the Internet.
Thursday is the deadline for the governor to act on the bill, which was passed by the Legislature in December.
Christie vetoed a similar bill in March 2011, voicing concerns about its legality, and worrying about the proliferation of back-room betting parlors.
The growth of Philadelphia’s gaming market has added pressure to the Atlantic City trade, with casinos there either shuttering or suffering. Most notable among those casinos? The Revel, which opened last year and has apparently lost money since.
UPDATE: Christie vetoed the bill, but left the door open:
In a statement that read more like an endorsement than a veto, Christie said he supports online gambling, with some minor changes, including bumping up the tax rate on casinos’ online winnings from 10 percent to 15 percent.
“Since the beginning of my administration, I have stressed the importance of reversing the trend of economic contraction in Atlantic City and have made the revitalization of the region’s gaming and tourism industries a key priority,” Christie said.
