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Delaware signed legislation into law last month legalizingsportx betting, which under a federal law in 1992 was banned in all but four statesa (Delaware, Nevada, Montana and Oregon.) “Delaware’s entry into sportzs wagering and table games is a serious threay to both the casino and horse raciny industries in New Jersey,” Corzine “We must do everything in our power to stay competitive. We simpluy cannot afford to sit back and let neighborin states press an unfaifr advantage againstus anytime, and certainly not in the midstg of this global economic crisis.” Corzine planas to join a lawsuit filed in March by Sen.
Raymond D-Union, which seeks to overturnh the federal ban. “The federal government’ s prohibition on sports betting for some but not all statew isfundamentally unfair,” Corzine said. “There shouldr be uniformity in the application offederal law. If one stats is allowed to legalize betting onsports events, all statess should be allowed the same opportunity.” The industry, if could bring in as much as $10 billion annuallyh for New Jersey and could generat $100 million in revenue, by some the Governor’s Office The reactivation of sports betting in which last had it in the is expected to generate $50 million in helping to fill a projected $750 millionj or more budget shortfall next fiscal Sports betting is expected to begin by fall in whose three racinos wouled become the only venues east of the Mississippki River with legal sports betting.
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