Federal Courts reject New Jersey’s attempt to get past the federal ban on sports wagering.
New Jersey has been attempting to legalize sports betting since late 2008. In hopes of expanding the gaming options in the state of New Jersey, New Jersey passed a law partially repealing a Federal ban at racetracks and casinos. The US 3rd Circuit court of Appeals rejected the state’s plan to allow casinos and racetracks to allow wagering on games.
This fight is expected to continue in court as New Jersey hopes that passing this law and implementing sports betting will aid the struggling the Atlantic City casino industry struggling horse racing industry.
Atlantic City has had a difficult few years. Four of its 12 casinos closed in 2014 adding to the growing unemployment rate. This added to the already tight budget which doesn’t allow Atlantic City to contribute in full to the state at this time.
“Atlantic City’s economy is all built on gaming, and when that industry goes away, when a competitor opens in your backyard, that can be devastating to the local economy as well as [to local] property taxes,” Tracy Gordon