Despite NJ Blessing, Casinos Will Be Leary of Sports BettingSeptember 10, 2014 – In The News
Patrick Madamba, Jr. was quoted in the Law360 article, “Despite NJ Blessing, Casinos Will Be Leary of Sports Betting.” Full text can be found in the September 10, 2014, issue, but a synopsis is below.
While New Jersey’s approval of sports betting this week allows casinos and racetracks to tap into a new revenue stream, attorneys caution that cost concerns and worries about compliance with regulations in other states may deter entities from jumping into the sports pool for now.
New Jersey law enforcement has been ordered by the state attorney general to stand down and not arrest, charge or make any enforcement actions against casinos and racetracks that offer sports betting that does not involve an event in the state or a state-based college team.
“At the moment, this is the law in New Jersey: that there is no law that prohibits casinos and racetracks from hosting sports pools," said Patrick Madamba Jr. "Thus, without a criminal law, it's not criminal conduct.”
“I do not see any casino licensees offering sports betting until it becomes clearer where [New Jersey] is going to end up with the case, but I wouldn't be surprised if I saw a racetrack do it,” Madamba said.