M E M O R A N D U M

TO: Members of the Assembly State and Local Government Committee

FROM: Hilary Chebra, Manager, Government Affairs, CCSNJ

RE:                        A-2190 (Caputo/Chaparro/Greenwald)

The Chamber of Commerce Southern New Jersey (CCSNJ) would like to offer its strong support of A2190 (Caputo/Chaparro/Greenwald), which would extend the authorization for internet gaming in New Jersey through 2033.

As you know, the effort to legalize sports wagering in New Jersey dates back to 2010 when voters  approved by a two to one margin a referendum seeking to allow betting on all professional sports, and collegiate games played outside of New Jersey. At that time, the CCSNJ was proud to be extremely  supportive of this measure that many were certain would be a boon for New Jersey’s economy, as well as an enormous asset to the Atlantic City casino industry.

The legal victory that was delivered by the United States Supreme Court in May of 2018 paved the way for internet-based wagering to finally become a reality. The Supreme Court ruling, and subsequent passage of the initial sports betting bill (2018’s A-4111 Houghtaling/Sweeney), was a watershed moment for the state that continues to aide in the gaming industry’s recovery from the pandemic, while also supporting the horseracing industry, and as predicted, has allowed for a significant increase in state revenue.

However, the law that made online gaming legal in New Jersey (P.L.2018, c.33) is set to expire in November of 2023, having been initially authorized for only 10 years. A-2190 (Caputo/Chaparro/ Greenwald) would extend the expiration date further through 2033, which gives the state time to continue to watch sports betting trends and make adjustments to the law during a future reauthorization, if need be.

New Jersey is now home to 31 online gaming websites that operate through the nine casinos in Atlantic City. The CCSNJ believes that this rapidly growing market is an asset to the region, especially as nearby states expand their gaming portfolios. It is also undeniable that online gaming provides New Jersey with tax money for important statewide programs and is considered a major economic driver in New Jersey.

For these reasons, the CCSNJ respectfully requests that you vote “yes” on A2190 (Caputo/Chaparro/ Greenwald).