In a statement released by his office, Christie said that he supported online gambling but that the 10-percent tax rate in the legislation should be increased to 15 percent. He also said that any legislation authorizing online casino-type gambling should have a 10-year moratorium.
The legislation would have made New Jersey the third state to legalize online gambling, following Nevada and Delaware. Christie vetoed similar legislation last year.
Casino companies in New Jersey lobbied for the legislation as a way to generate revenue in the face of severe declines in gambling at their Atlantic City locations over the past five years. Atlantic City casinos are rapidly losing market share in the Northeast because of the expansion of gambling in neighboring states
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LI Confidential
> Stop scratching on holidays
Stop scratching on holidays
Published: June 1, 2012
Off Track Betting in New York State has been racing into a crisis called shrinking revenue. Some people have spitballed a solution: Don’t close on holidays.
New York State Racing Law bars racing on Christmas, Easter and Palm Sunday, and the state has ruled OTBs can’t handle action on those days, even though they could easily broadcast races from out of state.
“You should be able to bet whenever you want,” said Jackson Leeds, a Nassau OTB employee who makes an occasional bet. He added some irrefutable logic: “How is the business going to make money if you’re not open to take people’s bets?”
Elias Tsekerides, president of the Federation of Hellenic Societies of Greater New York, said OTB is open on Greek Orthodox Easter and Palm Sunday.
“I don’t want discrimination,” Tsekerides said. “They close for the Catholics, but open for the Greek Orthodox? It’s either open for all or not open.”
OTB officials have said they lose millions by closing on Palm Sunday alone, with tracks such as Gulfstream, Santa Anita, Turf Paradise and Hawthorne running.
One option: OTBs could just stay open and face the consequences. New York City OTB did just that back in 2003. The handle was about $1.5 million – and OTB was fined $5,000.
Easy money.
.
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