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Industry and researchers cite big revenue, jobs from sports betting and urge balanced tax policy
Summary
At a joint Senate–Assembly hearing, academic and industry witnesses highlighted sports betting’s rapid revenue and job growth in New Jersey while urging policies to sustain brick-and‑mortar casinos, protect consumers and avoid tax increases that could push players to illegal operators.
A joint Senate and Assembly committee heard sharply divergent but intersecting accounts of online sports betting’s benefits and risks on Thursday, as university researchers, business groups and operators described fast revenue growth and job creation while urging measured regulation.
Dr. Jane Bakunowitz, director of the Lloyd D. Levinson Institute of Gaming, Hospitality and Tourism at Stockton University, told lawmakers that since legalization sports betting has become an increasingly important revenue source for New Jersey. She said 2023 generated “more than $1,000,000,000 in gross gaming revenue” and that internet gaming and sports betting together have contributed hundreds of millions in tax revenue to the state. Stockton cited Division…
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