M E M O R A N D U M

TO:                         Members of the New Jersey Senate

FROM:                   Debra P. DiLorenzo, President & CEO, CCSNJ

RE:                         Support of S-2602 (Sweeney/Van Drew/Gopal)

DATE:                     June 7, 2018

The Chamber of Commerce Southern New Jersey is proud to support S-2602 (Sweeney/Van Drew/Gopal), which would allow for wagering at casinos and racetracks on certain professional and collegiate sports or athletic events.

The effort to legalize sports gambling in New Jersey dates back to 2010 when voters approved by a 2 to 1 margin a referendum seeking to allow betting on all professional sports, and collegiate games played outside of New Jersey.  The legal victory that was delivered by the Supreme Court last month has paved the way for this measure to finally become a reality and the CCSNJ commends the many elected officials who have worked diligently on this issue over the past eight years.      

Sports betting will provide a much need economic boost for the entire state, generating meaningful tax revenue while supporting local jobs and businesses. In Atlantic City, sports wagering will add another significant amenity to the City and attract both in-state and out-of-state visitors during major sporting events covered under the bill.  New Jersey’s racetracks will also reap the benefits of sports wagering and will most certainly thrive with the infusion of economic activity that sports gaming will bring.

Gambling on sports has taken place in the dark for years.  With the Supreme Court decision and the passage of this legislation, the state can regulate this activity and collect some of the revenue from it – revenue that is much needed to support the state’s budget.

The Supreme Court ruling and subsequent passage of this bill is a watershed moment for the state of New Jersey that will aid in the continue rebirth of Atlantic City, support the horseracing industry and open the door to revenue generation for years to come. 

For these reasons, we urge you to support S-2602 (Sweeney/Van Drew/Gopal).