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NJ ANNOUNCES TEMPORARY RULES FOR FANTASY SPORTS TOURNAMENTS


(The following is a reformatted version of a corrected press release issued by the New Jersey Division of Gaming Enforcement and received via e-mail. The corrected link at the bottom of the release was confirmed by the sender.)

March 18, 2013

Division of Gaming Enforcement Announces Temporary Adoption of Regulations for Fantasy Sports Tournaments in Atlantic City Casinos

ATLANTIC CITY -The Division of Gaming Enforcement announced today the temporary adoption of regulations which authorize Atlantic City casinos to offer fantasy sports tournaments to their patrons. The regulations will become effective April 22, 2013.

“The casinos’ vast customer base and the ability to have contest winners utilize the casino cage to accept entry fees for fantasy sports tournaments and pay out winnings resulting from those tournaments provides an exciting opportunity to bring fantasy sports tournaments to Atlantic City,” said Director David Rebuck. “We see this as an added amenity and beneficial to the casinos and their customers.”

The regulations permit the casinos, by themselves or in partnership with fantasy sports providers, to offer fantasy sports tournaments or contests.

“These regulations continue to ensure integrity in gross revenue accounting by allowing the Division to maintain the authority to approve how transactions relating to fantasy sports tournaments are processed by the casino cage,” said Rebuck. The casinos will be required to submit to the Division internal controls on their cage processes.

The minimum age for participation in fantasy sports tournaments at a casino is 21.

The temporary regulations will remain in effect for a period of 270 days. Within that time period, the Division will propose them for final adoption.

The regulations on fantasy sports games (N.J.A.C. 13:69P) can be found at http://www.nj.gov/oag/ge/temporaryorders.html

For Further Information Contact: Lisa Spengler (609) 317-6201

(sgp) NY

#<278855.14078.3.4.1.0.76>#

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