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Bill would let NJ oversee foreign net bet firms


ATLANTIC CITY, N.J. (AP) — A New Jersey lawmaker introduced a bill Thursday that would let his state’s casino regulators oversee foreign Internet gambling companies if they move their operations to Atlantic City.

State Sen. Raymond Lesniak says many overseas gambling companies want the stamp of approval that would come from submitting to New Jersey’s casino regulators, reputed to be among the strictest in the nation.

The foreign firms would not be able to take bets from anyone in the United States.

They would pay the same 15 percent tax that New Jersey’s casinos do on Internet revenue. And the foreign firms would have to contribute to a fund to raise $20 million a year for three years to help New Jersey’s struggling horse racing industry.

New Jersey began Internet gambling two weeks ago.