Lawyers Hopeful, If Not Optimistic, About Sports BettingNovember 24, 2014 – In The News
Nicholas Casiello Jr. was quoted in the New Jersey Law Journal article, “Lawyers Hopeful, If Not Optimistic, About Sports Betting.” Full text can be found in the November 24, 2014, issue, but a synopsis is below.
Atlantic City lawyers were paying close attention when a federal judge recently thwarted New Jersey’s latest effort to institute sports wagering. Lawyers are hopeful that if sports betting came to fruition, it would be a benefit to casinos – and perhaps gaming lawyers as well.
"If it were to become legal it would be a great business opportunity for the casinos in Atlantic City, and that would mean it would be a great opportunity for attorneys who do gaming work," explained Nicholas Casiello Jr., Chair of Fox’s Gaming Practice Group.
"Anything that's good for the casino industry is good for casino lawyers, and casinos in Atlantic City need all the help they can get right now," Casiello added.
Casiello noted that regulated or not, under the New Jersey Casino Control Act, casinos "still have an obligation to do business only with companies that possess good character. Someone has to assess that due diligence, and don't forget IP."
Casiello also stated that “there may be a backhanded way for the state to regulate companies that facilitate sports gaming activities," without a licensing framework.