Community Corner
Sports Wagering Becomes Official For Atlantic City's Racetracks and Casinos
Those entities can now start applying for licenses, to be issued in January.
On Monday, Oct. 15, it became official: Sports wagering is coming to Atlantic City.
The final regulations were published in the New Jersey Register, and the Division of Gaming Enforcement can now begin accepting applications from racetracks and casinos, Attorney General Jeffrey Chiesa said.
“With the publication of these regulations, New Jersey ensures effective regulation and oversight of sports wagering, consistent with its longstanding nationwide reputation for maintaining integrity and instilling public confidence in gaming operations," Division Director David Rebuck said in a release issued Monday afternoon.
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Entities must apply for a “Sports Pool License," according to Chiesa. In doing so, they must identify a location to operate their sports wagering lounge in their establishment, Chiesa said.
Regulations specify that only casinos or racetracks or a joint venture of both may apply for the license, which will cost $50,000, with a $50,000 renewal fee every five years, Chiesa said.
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Licenses will not be issued before Jan. 9, 2013, Chiesa said.
“In keeping with New Jersey’s responsibility to fight compulsive gambling, half of the license fees will go toward prevention, education and treatment programs for compulsive gamblers,” Rebuck said.
