New Jersey OKs Online Gaming

New Jersey Gov. Chris Christie yesterday signed off on legislation that will allow Internet gambling in Atlantic City. The law will allow any game played in the city’s 12 casinos to be played online, in New Jersey only at first and eventually in other places willing to partner with the state. Licenses will be limited to the Atlantic City casinos. According to press reports, the state's Treasury said it expected the new law, combined with the recovery from Hurricane Sandy and additional advertising, to increase casino revenue sharply from $235 million in the current fiscal year to nearly $436 million in fiscal 2014.