New Jersey Revives Bills for Racetrack Slots and Advertising Restrictions

Legislative Moves in New Jersey: Slot Machines and Advertising Controls

New Jersey is revisiting key legislative bills aimed at transforming its gambling landscape by introducing slot machines at horse racing tracks and enforcing stricter advertising regulations. These bills represent strategic efforts to revitalize the state’s gambling industry.

Expanding Gambling Options at Racetracks

Senator Joseph Pennacchio’s bill, SCR14, proposes an ambitious amendment to permit slot machines at New Jersey’s racetracks. This initiative not only seeks to enhance the state’s gambling offerings but also aims to allocate generated revenue for sectors like casinos, horse racing, and the improvement of Atlantic City.

A History of Persistence for SCR14

Pennacchio’s dedication to this bill dates back to 2014, but it has faced challenges in the past, failing to progress through committees in 2020 and 2022. Despite these setbacks, the bill’s reintroduction reflects ongoing commitment to broadening gambling options in New Jersey.

Targeting Responsible Advertising with SB2156

Alongside SCR14, Senator Joseph Cryan’s SB2156 focuses on responsible gambling advertising. The bill aims to restrict advertisements that target self-excluded gamblers and minors, as well as curbing fraudulent advertising practices, while leaving other advertising methods untouched.

Committee Review: A Critical Step Forward

Both bills, SCR14 and SB2156, have been referred to the Senate State Government, Wagering, Tourism & Historic Preservation Committee. This referral marks a critical step in the legislative process, potentially leading to significant changes in New Jersey’s gambling sector.

New Jersey’s Gambling Industry: A 2023 Overview

In the latter half of 2023, New Jersey’s gambling industry experienced fluctuations. Despite a 9.4% year-on-year increase in November 2023, there was a noticeable decline from October’s revenue. This downturn was largely attributed to reduced earnings from land-based casinos.

Performance of Key Properties in the State

MGM Resorts’ Borgata led the casino win for November, albeit with a slight decline from the previous year. Bally’s, however, reported significant year-on-year growth. In contrast, the Golden Nugget excelled in internet gaming, witnessing a substantial rise in its November win.

Online Gaming: A Silver Lining in Revenue Growth

Despite challenges in land-based revenues, online gaming in New Jersey showed promising growth. The total gaming revenue reported by casinos, racetracks, and their partners in the first 11 months of 2023 marked a significant increase from the previous year, indicating robust growth in the state’s iGaming sector.

Evaluating the Future of New Jersey’s Gambling Industry

The reintroduction of these bills underscores New Jersey’s proactive approach to adapting its gambling industry to current trends and challenges. As these legislative efforts progress, they hold the potential to reshape the state’s gambling landscape, supporting growth and responsible gaming practices.