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Jul
2nd

12 Casinos Apply For Permits in New Jersey

All twelve Atlantic City casinos took advantage of the state’s new interactive gaming law and took steps to obtain internet gambling permits ahead of the June 30th deadline set by New Jersey regulators. State officials are preparing for a November start for intrastate poker and other online gambling including internet bingo. Borgata, co-owned by Boyd Gaming and MGM Resorts and Caesar’s Entertainment were among the gaming operators that notified state officials of plans to partner with an online gaming operator. Some casinos have partnered with European operators to provide the infrastructure necessary to operate an internet gaming site. European operators have over a decade of experience in the interactive gaming industry.

The notifications were a state requirement for companies that want to begin operations as soon as internet gaming goes live in New Jersey. The earliest date online gaming will start is November 23rd but state officials said the date could be pushed into 2014. Lisa Spengler, a spokeswoman for New Jersey’s Division of Gaming Enforcement, told reporters “For applicants that meet this filing deadline, the Division will be in a position to determine if they can commence Internet gaming operations by the go-live date.”

In February New Jersey became the third state to legalize internet gambling. Delaware was the first state and Nevada was second. Casino operators see New Jersey as the most profitable opportunity based in its size and the fact that the state intends to provide players with a wide selection of games. Nevada has limited online gambling to poker and all other forms of internet gambling will remain illegal in the state. Analysts believe that Nevada’s online gaming market will generate $50 million to $250 million annually. New Jersey is expected to produce $500 million to $1 billion annually.

Other casinos that applied for permits include Tropicana Casino and Resort which was sold in a 2009 bankruptcy sale to a group of creditors headed by Carl Icahn. The Golden Nugget, owned by Landry’s also applied for a permit. The Trump Taj Mahal casino partnered with Las Vegas based Ultimate Gaming. In April Ultimate Gaming launched the first poker site in Nevada. Gibraltar-based Bwin.Party Digital Entertainment has teamed up with Borgata and four casinos owned by Caesar’s Entertainment have partnered with 888 Holdings. Online gaming licenses will be limited to Atlantic City’s 12 casinos to meet the state’s constitutional requirements.