Steps for the Licensing Process

15 June 2013 – By Cristian Dragomir

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The online casino market in the United States is starting to take shape. Nevada has become the first in the US to operate a regulated online casino. Despite that, other American states are not far behind. Foe example, this weekend, regulators in the state of New Jersey announced the timetable for the next couple of steps in the licensing process. Online casino companies have until June 30th to submit requests for online permits. With this permit, casinos across the state can partner with gambling companies to then apply for an Internet gaming license.

Casino companies in Atlantic City have started a year ago to partner with foreign and US-based online casino technology firms. The experience owned by companies serving online gamblers overseas is considered an advantage by regulators and for this reason New Jersey operators are hoping to bring in companies from Europe especially. However, regulators are cautious about who receives the license to offer online casino games to citizens in New Jersey. Representatives of the Division of Gaming Enforcement stated they are fully committed to a robust Internet gaming system in New Jersey that promotes public confidence in the effectiveness and integrity of the regulatory process and oversight of gaming operations.

Las Vegas has already launched an online casino in beta mode and is expected later this summer to be the first city in the nation to have a fully operational online casino. In New Jersey, analysts expect to have online casinos up and running at the end of November. 12 casinos in Atlantic City are expected to open by that date while others may wait a few months longer before they implement their online casino operations. Atlantic City casinos may soon be permitted to open sports books, in addition to the new internet gambling. Lawmakers in New Jersey know online gambling and sports betting are both multi-billion industries and are looking for ways to revive a dwindling gaming industry in Atlantic City. Experts from the online casino market say online casinos in the state of Nevada could bring in $2 billion annually and that means great news for the whole local economy.

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