A bill to approve online gambling in Tennessee was passed in the state after it faced hurdles but ultimately overcame them and moved forward.
US.- The online gambling segment may soon arrive in Tennessee after House Bill 1 moved forward in the House of Representatives. After facing hurdles, the bill underwent several changes and finally was agreed upon.
Representatives had failed to agree on the bill but amendments have finally helped them make progress. Those include taxation to fund fighting gambling addiction and treatment in the State Department of Health and Substance Abuse. Furthermore, it restrains team owners, coaches, and athletes in sporting activities from engaging in gambling vices.
The House Government Operations Committee will most likely pass the bill after thorough analysis and deliberation. Afterwards, the Bill will be drafted into law. The Senate will discuss the Senate version of the gambling bill in the Senate State and Local Government Committee.
The segment’s success
Ever since PASPA was revoked, states have seen major revenue increases.
The casino industry continues to grow in Atlantic City: this time operators reported a 16.9% increase in gaming revenue. This growth marks the 11th consecutive month of increases in Atlantic City.
The nine casinos in New Jersey’s gambling hub reported US$250.7 million in total gaming revenue in April. The information was released on Tuesday by the New Jersey Division of Gaming Enforcement (DGE).
Analysts estimate that the Hard Rock Hotel & Casino and Ocean Resort openings in June 2018 helped this growth. This is because casino revenue in Atlantic City has reported double-digit growth since those openings.
As the DGE detailed, the industry has generated US$977.3 million in gaming revenue through the first four months of the year. The figure represents a 20.8% year-on-year increase when seven casino properties were operational.