Firms Score Big Payoff with Online GamblingJanuary 14, 2014 – In The News
Nicholas Casiello Jr. was quoted in The Philadelphia Inquirer article “Firms Score Big Payoff with Online Gambling.” While the full text can be found in the January 14, 2014, issue of The Philadelphia Inquirer, a synopsis is noted below.
Internet gambling has generated a $50.3 million payoff for lawyers, lobbyists and other professionals since mid-2009, according to disclosures posted by the New Jersey Division of Gaming Enforcement.
The disclosures were posted just before New Jersey published its first revenue report for online gambling, which has been closely watched by gambling interests since its start in November because New Jersey is the first major U.S. market to legalize online poker and casino gambling.
These spending reports are supposed to cover professional services including “legal, consulting, lobbying, auditing, accounting, recruitment and referral services provided with regard to Internet gaming,” the regulations say.
“Many states have statutes requiring public disclosure of revenues by lobbyists, including New Jersey, but this is the first time I have ever heard of a gaming regulatory agency requiring disclosure of payments to lawyers,” said Casiello.
Fox Rothschild came in fourth for legal services, collecting $764, 988 from 13 clients from July 1, 2009 through December, the reports showed.