In America, the Governor for the eastern state of New Jersey has signed legislation into law that allows the state’s long-suffering horseracing industry to benefit by being able to offer exchange and parimutuel wagering.
First-term Republican Chris Christie put his signature to measures S-2229 and A-2926 on Monday while also using a ‘conditional veto’ to block legislation that supporters stated would have streamlined the process by which off-track betting locations were approved and built.
Sponsored by New Jersey General Assembly Democrats Craig Coughlin, John Burzichelli and Annette Quijano, A-2926 has been designed to boost interest in horseracing in the state and permits the New Jersey Racing Commission to issue a licence to the New Jersey Sports and Exposition Authority that would allow it to operate a betting exchange.
S-2229 was sponsored by New Jersey General Assembly Democrats John McKeon and Connie Wagner and permits racetrack permit holders to provide for a single parimutuel pool for each running or harness horse race.
“These measures represent the next steps in following through on my administration's commitment to securing a strong, independent and self-sufficient horseracing industry in New Jersey,” said Christie.
“We are providing new tools to help the industry implement new strategies, generate additional revenues and capitalise on interest in horseracing around the state.”
Christie still has to decide whether to sign bi-partisan legislation sponsored by New Jersey State Senators Raymond Lesniak and Joseph Kyrillos into law that would see the state become the first in the United States to offer legal online gambling to its residents. Known as S-490 and passed on January 10 by both the lower New Jersey General Assembly and higher New Jersey Senate, the legislation would see inhabitants permitted to wager online via portals hosted on servers based exclusively in Atlantic City with those living outside of the state blocked. These domains would be run by land-based casinos operating in the state with operators required to pay $200,000 for an initial one-year renewable licence with this fee dropping to $100,000 for subsequent years.
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First-term Republican Chris Christie put his signature to measures S-2229 and A-2926 on Monday while also using a ‘conditional veto’ to block legislation that supporters stated would have streamlined the process by which off-track betting locations were approved and built.
Sponsored by New Jersey General Assembly Democrats Craig Coughlin, John Burzichelli and Annette Quijano, A-2926 has been designed to boost interest in horseracing in the state and permits the New Jersey Racing Commission to issue a licence to the New Jersey Sports and Exposition Authority that would allow it to operate a betting exchange.
S-2229 was sponsored by New Jersey General Assembly Democrats John McKeon and Connie Wagner and permits racetrack permit holders to provide for a single parimutuel pool for each running or harness horse race.
“These measures represent the next steps in following through on my administration's commitment to securing a strong, independent and self-sufficient horseracing industry in New Jersey,” said Christie.
“We are providing new tools to help the industry implement new strategies, generate additional revenues and capitalise on interest in horseracing around the state.”
Christie still has to decide whether to sign bi-partisan legislation sponsored by New Jersey State Senators Raymond Lesniak and Joseph Kyrillos into law that would see the state become the first in the United States to offer legal online gambling to its residents. Known as S-490 and passed on January 10 by both the lower New Jersey General Assembly and higher New Jersey Senate, the legislation would see inhabitants permitted to wager online via portals hosted on servers based exclusively in Atlantic City with those living outside of the state blocked. These domains would be run by land-based casinos operating in the state with operators required to pay $200,000 for an initial one-year renewable licence with this fee dropping to $100,000 for subsequent years.
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