Sports Betting Exchange A.C.

http://www.gaming-awards.com/NEWS/archives/19692?goback=%2Egde_1874456_member_219345915

New Jersey Governor Chris Christie said Friday he would appeal a judge’s decision to stop any sports betting in the state, the ruling does not help casinos in the state that have struggled for years and wanted to enter a market worth billions in the US.

U.S. District Judge Michael Shipp agreed in his ruling along with the four major professional sports leagues including the NFL in upholding the law against sports betting within the state of New Jersey.

The 1992 Professional and Amateur Sports Protection Act, a law that prohibits legal sports gambling in all but Nevada and three other states.

Casino operators had hoped that a favourable ruling allowing sports betting would help their declining fortunes, with the recent and newest casino, The Revel, announcing that it will file for Chapter 11 bankruptcy protection this month, aboonly just over a year after it opened. Earlier in February, the Trump Plaza casino was sold for $20 million, the lowest price ever paid for an Atlantic City casino.

Billions of dollars are bet legally each year on sports in Nevada, and experts estimate tens or even hundreds of billions are wagered illegally through bookmakers.

http://www.gaming-awards.com/NEWS/archives/19661

Federal judge, Michael Shipp yesterday granted a permanent injunction to stop New Jersey from offering sports betting, effectively now stopping the state’s efforts however the battle will now likely go the Court of Appeals in Philadelphia.

The Judge agreed with the National Football League and other sports organizations to prevent New Jersey from allowing sports books at casinos.

On the side of the NFL was also the U.S. DOJ which supported the case to defend the 1992 Professional and Amateur Sports Protection Act passed by Congress.

Shipp noted in his 45 page judgment that;

“Although some of the questions raised in this case are novel, judicial intervention is generally unwarranted no matter how unwise a court considers a policy decision of the legislative branch,” Shipp wrote. “As such, to the extent the people of New Jersey disagree with PASPA, their remedy is not through passage of a state law or through the judiciary, but through the repeal or amendment of PASPA in Congress.”

http://www.usatoday.com/story/news/nation/2013/02/22/gambling-online-nevada/1939183/

CARSON CITY, Nev. — Nevada has legalized online gambling, speeding a bill through joint committees and both houses of the legislature in less than four hours.

The state’s governor, Republican Brian Sandoval who also is a former chairman of the Nevada Gaming Commission, had signed the emergency measure by 4 p.m. PST Thursday.

http://www.lexology.com/library/detail.aspx?g=c961a409-4905-4f69-88a1-f1b6bbab6dce

Dinsmore & Shohl LLPKevin P. Braig

Some of the biggest names in the legal profession wrestled with points of constitutional law on February 14 in NCAA v. Christie , the case that some have called “the fight for the future of American sports gambling.”

But the outcome of the case may turn on how Judge Michael A. Shipp pins down the NCAA’s, NFL’s and other sports leagues’ position on a point of administrative law.

The big issue at stake in the case is whether the 1992 Professional and Amateur Sports Protection Act (“PASPA”), which limits single-game sports betting to Nevada, is constitutional. The sports leagues, as well as the United States Attorney on behalf of the Department of Justice (“DOJ”), contended in oral argument that Congress’ basis for enacting PASPA—stopping the growth and spread of legal and regulated sports betting—was a rational exercise of the Commerce Clause.

http://m.pressofatlanticcity.com/news/press/casinos_tourism/gov-chris-christie-expected-to-sign-bill-allowing-internet-gambling/article_c03ef46c-7eba-11e2-8a4d-001a4bcf887a.html

By HOA NGUYEN Staff Writer

Lawmakers are expected to concur with Gov. Chris Christie on changes he made to an Internet gambling bill, clearing the way Tuesday for the legislation to be signed.

If enacted, the legislation would make New Jersey the third state to offer some form of Internet gambling, behind Nevada and Delaware.

As part of Christie’s recommendations, the legislation would have a life of only 10 years, after which lawmakers must reauthorize the legislation for Internet gambling to continue.

Unlike gambling revenue won on the casino floors of Atlantic City, which is taxed at 8 percent, Internet gambling revenue would be taxed at 15 percent. All equipment, with the exception of temporary backups, would have to be located in an Atlantic City casino.

Assemblyman John Amodeo,cq R-Atlantic, said experts have predicted that in five years, Internet gambling revenue may reach as high as $1.2 billion.

http://www.hibbingmn.com/news/article_2686ae52-7ca1-11e2-b877-0019bb2963f4.html

y URMILA RAMAKRISHNAN Legislative Correspondent

http://finance.yahoo.com/news/njs-newest-casino-revel-file-005235068.html

ATLANTIC CITY, N.J. (AP) — Revel, the casino many people had hoped would turn around Atlantic City’s sagging fortunes, said Tuesday that it will file for Chapter 11 bankruptcy protection in March, less than a year after it opened.

http://blog.northjersey.com/meadowlandsmatters/5027/more-inside-the-courtroom-details-on-thursdays-nj-sports-betting-hearing/#more-5027