New Jersey gambling is making news by taking firm and forward steps toward legalizing online gambling in the state. The Senate Budget and Appropriation Committee last month passed some laws to this effect. This was followed by a similar legislation passed next by the State Assembly. This move has come in the wake of the realization by many industry leaders and legislators of the need for New Jersey to be a pioneer in introducing gambling laws in an effort to legalize online gambling. This would help the state to be in the race ahead of others like Iowa, California, or Nevada.

Incidentally, the land-based casinos in Atlantic City have been witnessing tremendous decline in revenues, and it is the belief among lawmakers like Senator Lesniak that online gambling when legalized can improve the situation. The past three years have been particularly slow in generating revenues. This ailing industry can hope to be revived if online gambling is legalized. The President of the state Casino Association in a statement declared his state’s support for online wagering. But, this must not harm consumers in any way. He clarified that all Atlantic City casinos are bound to be consolidated provided online gambling laws come into force. The current gambling bill should be passed to improve the tax revenues instead of the profits actually moving overseas. In this context, Robert Griffin insisted that New Jersey legislators should actively consider enacting the gambling bill. The online betting scheme is likely to be far more profitable when compared to the existing forms of wagering. Along with taxes, licensing fees have been proposed to be collected from casinos online when gambling becomes legal in the state. During the first year, the licensing fees are expected to be $200,000, whereas the cost for renewing license the following year is scheduled to be $100,000. Interestingly, all funds collected from licensing fees will be utilized for aiding programs dedicated to helping those suffering from gambling problems.

The state of New York is also expected to launch few more brick-and-mortar casinos soon. This move is again likely to adversely affect the revenues of Atlantic City land casinos. Incidentally, the primary objections to this new bill come particularly from the crippled horseracing sectors.

Jackpot Party Casino Launch

The Jackpot Party Casino recently introduced a set of new slots. The first of these is the Magic Wand with 25 pay lines. This game is exclusive to the casino and is based on a theme of illusion. There are some special features like free spins, wild bonuses, and progressive bonus. WMS Gaming, which owns this casino, recently signed a deal with Konami Gaming Inc which is a Las Vegas based game developer to further strengthen its games suite. Konami Gaming has given its license to many slot titles to WMS Gaming like the Rawhide, Norse Warrior, and Jumpin’ Jalapenos. These are to come to all WMS Gaming’s online casinos like the Jackpot Party Casino. The WMS President Edidin feels that by adding these slot games on all WMS online platforms, they will get a tremendous boost. They will guarantee a unique gaming experience to all the regular players in this casino site. The company COO Steve Sutherland announced this new launch which he believes to be a great way to consolidate revenues even further and keep their members satisfied.

The International Gaming Institute (IGI) of UNLV has declared that the 15^th Gaming Conference will take place at Caesars Palace from May 27 to May 31, 2013. This conference that spans four days is held every three years. It was first held in 1974. In Las Vegas, the conference was last held in 2000, which was the 4^th time in this city since it was first held. Now, it will return to Vegas for the 5^th time next year, after a long gap of 12 years.

The Director of the Institute for the Study of Gambling and Commercial Gaming of UNR had earlier planned to organize this conference on “Gambling and Risk Taking” at Lake Tahoe. But, the lack of funds deterred them to host the conference alone. Moreover, according to him, partnering with the University of Nevada seemed to be a good decision, as Las Vegas, popular as the Casino City, needed to host one of the most important conferences of the gaming industry to bring gamblers and casino operators on a common platform.

Also, the partnership between UNLV and UNR would combine not only financial resources, but also academic resources. According to the Executive Director of UNLV, this is a historic partnership.

Participants

In the last conference, in 2009, around 300 people had participated and the event saw about 180 research paper presentations. Over the years, the conference has drawn quite a number of researchers and academics.

This time, both UNR and UNLV are considering putting a call for research papers. They are aiming for 500 participants next year, including policy makers, researchers, academics, gaming regulators, and gaming operators.

It is also expected that the 15^th gaming conference next year will draw the participation of mathematicians, health care providers, international delegates, and even gamblers and enthusiasts of the gaming industry.

Topics

The focus of the conference will be online gaming, casinos of the US, Asian gambling industry, gambling addiction, the future of gambling in Las Vegas, and new technologies in the gaming industry.

The 1974 scenario

In the 1970s and earlier, hardly anybody ever studied gambling as a subject. Research was absent. Industry executives participating in a gaming conference hosted by academics was unheard of. In fact, the gaming industry found it uncomfortable associating with academia in those days.

But, when the first gaming conference was held in 1974, things started to change. Now, the conference sees the participation of people from a broad range of fields, from professional gamblers and casino operators to mathematicians, researchers, and even behavioral scientists!

With about 40 states making gambling a legal activity, a lot of interest has been created in the gaming industry and this sector has become one of the most important ones, and of course one of the most lucrative ones, in the world.

Besides all this, the gaming conference of 2013 will help preserve the image of Nevada as a gambling destination. This is important in the wake of growing competition in this field, as the industry is spreading its wings far and wide across the globe, including Singapore and Macau.