ASSEMBLY REGULATORY OVERSIGHT AND GAMING COMMITTEE
ASSEMBLY, No. 2575
with committee amendments
STATE OF NEW JERSEY
DATED: MARCH 5, 2012
The Assembly Regulatory Oversight and Gaming Committee reports favorably and with committee amendments Assembly Bill No. 2575.
This bill makes various changes to the law governing casino gaming in this State.
As amended by the committee, the bill:
authorizes the division to allow electronic versions of authorized games to be played on mobile gaming devices within an approved hotel facility, including any area within the property boundaries of the casino hotel such as the pool and outdoor recreation areas; provided the player has established an account with the casino licensee, the wager is placed by and paid to the patron in person within the approved hotel facility, the mobile gaming device is inoperable outside the approved hotel facility, the division authorizes the device for mobile gaming, and ensures that gaming will not extend outside of the casino hotel’s property boundaries;
amends the definition of “gross revenue” to specify that the cash equivalent value of any merchandise or thing of value included in a jackpot or payout will be included in the total of all sums paid out as winnings to patrons for purposes of determining gross revenue, and that such cash equivalent value must be equal to the amount actually paid by the casino licensee for the merchandise or thing of value;
amends the definition of "corporate officer" to include chief compliance officer;
clarifies in one section of the law that it is the Division of Gaming Enforcement, not the Casino Control Commission, that will decide which persons are to be qualified in conjunction with a casino license or casino license applicant;
removes the requirement for the commission’s prior approval of a non-publicly traded corporation’s transfers of securities, shares, and other interests in connection with that corporation’s application for a casino license, but clarifies that the commission receives notice of such transfers and may disapprove within five business days from receiving the notice, or the transfers become effective at the end of that period;
removes the prohibition against a casino key employee licensee wagering in any casino outside of the State, and removes a reference to any person who is required to hold a casino key employee license as a condition of employment or qualification;
permits a casino licensee to accept a check, from a person to take part in gaming or simulcast wagering as a player, issued by any entity, not just a check issued by an affiliate casino licensee;
restores language deleted by P.L.2011, c.19 so that a casino licensee may compensate a junket enterprise or representative based upon the actual casino gaming or simulcast wagering activities of a patron procured or referred by the junket enterprise or representative; and
provides that a former employee of the Casino Control Commission who has been hired by the Division of Gaming Enforcement will retain all seniority and rights attendant thereto.
The committee amended the bill to delete language that would have permitted participation agreements between casino licensees and casino service industry enterprise licensees, or applicants for such licenses, for the purchase or lease of slot machines and the payments of an interest, percentage, or share of the proceeds from the operation of the slot machines to the casino service industry enterprise licensees or applicants, subject to the approval of the Division of Gaming Enforcement.