PRESIDENT ’ S VIEW
The Evolution and Economics of Gaming
By Anthony Russo President , CIANJ
In 1976 , when New Jersey voters passed a referendum allowing for casinos and gaming in Atlantic City , the world changed . New Jersey became a destination place for anyone who wanted an alternative to Las Vegas . Atlantic City was closer , has a boardwalk , a beach and offered other attractions for folks to enjoy . At its peak , Atlantic City had thirteen casinos employing thousands of our residents . It was the place to go enjoy a meal , see a show and place your bet , but its success did not go unnoticed . Other States soon recognized the economic impact casinos and gaming could have on their economy so they jumped into the fray . Pennsylvania , Delaware and New York all legalized some form of gaming and that meant we had competition . In order for any business to thrive and survive , you need to stay ahead by offering something new or different , and for Atlantic City that was sports wagering . In 2017 , after a long court battle , New Jersey won the right to have a sports book or sports wagering at the casinos and as they say , the rest is history .
The popularity of sports wagering continues to grow . Whether we are talking about the Superbowl , basketball ’ s March Madness or another game , people see it as a fun way to enjoy the game with the chance of earning some extra cash when done responsibly . And since 2013 , when New Jersey legalized internet wagering , you can place your bet through your hand-held device and not have to be present at a casino . The internet has made gaming easier and all these betting “ apps ”, technologies , etc . all mean good paying jobs . In fact , New Jersey City University recently signed a memorandum of understanding with the New Jersey Economic Development Authority to develop a “ Sports Wagering and Financial Technology Workforce Development and Innovation Center ” assuring New Jersey continues to be innovative in this field and develops the workforce necessary to support the industry .
No one will argue that challenges still exist when it comes to gaming but New Jersey should continue to set the example on gaming , and more importantly responsible gaming , so it can be seen as a way to attract new investment and innovation in the years to come . There is no doubt , when it comes to gaming , New Jersey means business and that is good for our economy .
Photo : Getty Images / iStockphoto
Photo : Getty Images / iStockphoto
Family-friendly Atlantic City and sports wagering are fueling New Jersey ' s gaming industry boom .