This bill amends current law regarding sports wagering license fees in New Jersey. It establishes an additional annual fee of $250,000 for sports wagering licensees, which is to be paid to the Division of Gaming Enforcement. Of this fee, $140,000 will be allocated to the Council on Compulsive Gambling of New Jersey, while the remaining $110,000 will be directed towards compulsive gambling treatment programs within the state. This new fee is in addition to the existing license issuance and renewal fees, which are currently set at $100,000 annually, with 50 percent of those fees already dedicated to gambling addiction treatment programs.

The bill aims to enhance funding for gambling addiction prevention and treatment initiatives by increasing the financial contributions from sports wagering operators. The new fee structure is designed to ensure that a significant portion of the funds collected is specifically earmarked for addressing compulsive gambling issues, thereby supporting the state's efforts in providing necessary resources and programs for individuals affected by gambling addiction. The act is set to take effect on January 1 following its enactment.

Statutes affected:
Introduced: 5:12A-16