Online casino operators and online gambling sites get ready for a change in legislation in New Jersey come November 23.
Online Gambling Platform 2UP based out of London with offices in Australia has big plans to buy or build a brick and mortar casino in Atlantic City. They are the second online gambling operator to show interest to buy an Atlantic City-based land casino as PokerStars beat them to the punch a few weeks ago.
Gambling revenue has been falling slightly since 2006 but with New Jersey’s new laws making online gambling legal on November 23rd precisely. The managing partner Mr. Vincent Crandon said that he will make a full announcement on Labor Day whether his company will be building from scratch or buying something already standing. Buying would make him able to take bets directly on the date of new regulation, while buying would open the doors for business right on the magic date.
Although he couldn’t say exactly with who he is in talks with due to confidentiality agreements, he is working with an architect if building is the route he will take. Crandon has also stated that an Asian investment group is putting $330 million toward the deal. “The intent is really to be prepared to build anew,” Crandon said. “It’s not a light endeavor.”