Wynn Resorts Applies for Internet Gambling License in New Jersey

Thursday, 22 Aug 2013 01:42 PM

 

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Wynn Resorts Ltd. said it filed an application with New Jersey gaming regulators for an Internet gambling license.

Wynn's application follows dozens of companies that have submitted applications with the New Jersey Division of Gaming Enforcement for Internet gambling licenses ahead of a targeted launch date in late November.

Wynn Resorts operates casinos in Las Vegas and China's Macau, but has no casino operations in Atlantic City.

Licensing to offer Internet gaming will be limited to New Jersey's 12 land-based casinos, which are partnering with online gaming companies.

In early July, all 12 Atlantic City casinos took the first step to secure Internet gaming permits by notifying New Jersey regulators of plans to partner with Internet gaming providers, according to the gaming division.

New Jersey in February became the third state after Nevada and Delaware to legalize online gambling. Big casinos see New Jersey as the most lucrative opportunity based on its size and the fact its law encompasses many forms of gambling beyond, for example, Nevada's online poker-only bill.

Analysts project Nevada's online gambling market will yield $50 million to $250 million in annual revenue, while New Jersey is pegged to generate $500 million to $1 billion yearly.

© 2014 Thomson/Reuters. All rights reserved.

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