New Jersey sports betting update

SBR Natalie Rydström provides an SBR iGaming News update for Friday, October 19th, 2012. In today's show, an update is given on the possibility of licensed sportsbooks operating in Atlantic City, New Jersey by January 9th, 2013. Natalie also touches on other news nuggets making the gaming industry headlines this week.

New Jersey has dominated the headlines this week … and not for hit show “Jersey Shore”. New Jersey plans to issue sports betting licenses to Atlantic City casino and racetracks as early as January 9th, 2013. NCAA Executive VP Mark Lewis did not take the news well, as he has already scratched New Jersey from hosting five sports championships next year. State Senator Raymond Lesniak had a priceless reaction to this during his interview with SBR Tuesday. Let’s have a listen:

"One weekend at our casinos and racetracks will bring in much more revenue than those championships that the NCAA pulled from us. Once we get sports betting, other states will follow suit, and when that happens the only place the NCAA will be able to have their championships is in the state of Utah, and I don't think they want to do that." —NJ State Senator Raymond Lesniak (D)

The ball now rests in Trenton federal court, pending the outcome of the suit filed by the four major pro sports leagues and the NCAA seeking to block New Jersey from allowing sports wagering. Reports Wednesday indicated that New Jersey attorneys would depose the commissionsers of the sports leagues, a federal judge has yet to grant the motion. In order to win an injunction to stop New Jersey,  the league head honchos will have to prove that sportsbooks in Atlantic City will cause “irreparable harm” to the organizations. Not as easy as it sounds, as what New Jersey is planning to do is no different than what’s already done in the state of Nevada. There is also the matter of the federal statute PASPA, the Professional and Amateur Sports Protection Act, that outlaws sports betting in all but four states — Nevada, Delaware, Oregon, and Montana. Professor I. Nelson Rose joined us Wednesday and did not rule out the possibility of federal criminal indictments should New Jersey violate federal law.

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