Here is the weekly recap of the top legal news in the internet gaming world for the week of Sept. 8-12:
- New Jersey Internet Gaming Numbers for August 2014
- Singapore Legislation Would Ban Internet Gaming
- As Brick & Mortar casinos close in Atlantic City, Internet operations may still go on (for now)
New Jersey Internet Gaming Numbers for August 2014
Internet gaming win in New jersey rose to $10.5 million in August up from $10.1 million in July. There are now 431,617 Internet gaming accounts in New Jersey, up 6.5% from July.
Singapore Legislation Would Ban Internet Gaming
The Remote Gambling Bill of 2014 was introduced this week – the bill would ban online gaming in Singapore (with certain exceptions). The bill makes it a crime, not only to offer remote gambling, but to play remote gambling.
The bill further bans the advertisement of internet gaming sites and provides the Ministry of Home Affairs with authority to block internet gaming websites and block bank and payment processor transactions to and/or from internet gaming sites.
Interestingly, the bill does provide the Ministry of Home Affairs with the ability to except certain entities from the ban. Section 26 of the bill provides that the Minister is authorized to exempt entities if it is in the public interest to do so. The bill lays out examples of what is in the public interest: (i) the applicant is established, incorporated, registered or otherwise based in Singapore; (ii) whether a director or key officer of the applicant has been convicted of a crime; (iii) whether the applicant is a not-for-profit entity; or (iv) whether the applicant has a consistent track record of compliance with legal and regulatory requirements. The Minister, however, is authorized to give as much (or as little) weight to these factors as deemed appropriate by the Minister.
As Brick & Mortar casinos close in Atlantic City, Internet operations may still go on (for now)
Atlantic City is in the midst of a major change in the landscape of land-based casino operations. Thus far this month, two casinos have closed with another one scheduled to close next week. Another bankruptcy was commenced this week which outline the potential for another closure in November.
While the brick & mortar landscape is rapidly changing, the online landscape will remain the same (at least for now). Reports say the Director of the New Jersey Division of Gaming Enforcement will allow internet gaming operators partnered with a closed facility to continue until the surrender of a casino license which will take place post-cessation of gaming operations.