Let foreign gambling companies do business in N.J., lawmaker proposes
ATLANTIC CITY — A state lawmaker today unveiled a measure that would let international online gambling companies base their operations in New Jersey and be licensed by its tough casino regulators.
State Sen. Raymond Lesniak (D-Union), the prime backer of the state’s online gambling law, says his legislation would attract companies based overseas to relocate to New Jersey. The companies would serve up games of chance — including sports betting — to foreign players.
“Why would companies want to set up operations in New Jersey?” Lesniak said at a news conference today inside the Atlantic City Convention Center. “Well, we’ve got a great reputation for oversight and regulation. These companies, now located in Gibraltar or Isle of Man or any other offshore places, don’t have the stability — the stamp of approval — that gives a lot of credibility to their product.”
Under the bill, which has not yet been introduced in the state Legislature, the companies would be subject to New Jersey’s 15 percent sales tax on internet gaming with one big caveat: They would be given credit for any taxes paid to other jurisdictions. (Hutchins/Star-Ledger)
