Sports betting will be a major focus at East Coast Gaming Congress

Sports betting is now officially legalized in New Jersey, as the state Legislature last week approved a bill to regulate and tax the activity, and Gov. Phil Murphy today signed it into law.

Murphy is scheduled to be the keynote speaker at the 22nd annual gaming conference, which opens Wednesday.

Even before the U.S. Supreme Court decision on May 14 that found a 1992 federal ban on sports betting unconstitutional, wagering on athletic events was going to be a focus of the East Coast Gaming Congress & NextGen Gaming Forum. The very first session of the conference, scheduled for 3 p.m. Wednesday, is titled "Sports Betting: Where does it stand in mid-2018 and where is it going?"

Levenson said the discussion panel, which will include Joe Asher, CEO of William Hill U.S., the international sports book operator who has already partnered with Ocean Resort Casino and Monmouth Park racetrack, will adapt to the current sports betting landscape.

"(The discussion) will now be more on implementation and more the 'how' than the 'if' or 'when,'" Levenson said.

The bill, passed unanimously by both the state Senate and Assembly on June 7, will allow Atlantic City casinos and racetracks to offer sports betting. The legislation sets the tax rate for casinos at 8.5 percent, with an additional 1.25 percent payment to help market Atlantic City.

Internet bets would be taxed at 13 percent. Internet betting would begin 30 days after the rest of the law takes effect.

Other notables expected to attend the gaming conference include: Geoff Freeman, the outgoing president and CEO of the American Gaming Association; Mark Giannantonio, president and CEO of Resorts Casino Hotel; Jim Allen, chairman of Hard Rock International; Felix Rappaport, president and CEO of Foxwoods Resort Casino; and Ed Sutor, president and CEO of Dover Downs Hotel & Casino.