US internet gaming advocacy group launched
News on 21 Jun 2017
News on 21 Jun 2017
The iDevelopment and Economic Association (iDEA) is a recently established industry-led advocacy group for internet gambling in the US, which came to light through the release of an online gaming research study on the effects of interactive gaming on New Jersey’s economy earlier this week.
iDEA currently lists a broad representation of the sector in its founding members Amaya Inc., Golden Nugget, Paysafe, Betfair, GVC Holdings, Resorts Interactive, Catena Media, NetEnt, Sightline Payments, Continent8, NYX Gaming Group, Tropicana, GameSys, Pala Interactive, vantiv, Ezugi and IfrahLaw.
The blurb on ideagrowth.org punts iDEA as an association seeking to grow jobs and expand online interactive business in the United States through advocacy and education.
The “Economic Impact of New Jersey Online Gaming: Lessons Learned” study, commissioned and sponsored by iDEA, was undertaken by researchers Alan Meister, Ph.D., of Nathan Associates, and Gene Johnson, of Victor Strategies who analyzed financial and sociological data accumulated since New Jersey legalized online gambling in 2013.
The study found that from its inception through 2016 New Jersey iGaming has directly and indirectly generated $998.3 million in revenue, 3,374 jobs, $218.9 million in employee wages and $124.4 million in tax revenue to state and local governments, of which $83.5 million has been derived from internet gaming taxes.
“New Jersey’s experience provides valuable lessons for other U.S. states considering iGaming legalization,” said Jeff Ifrah, a leading gaming attorney and one of iDEA’s founding members. “The state’s operating environment and regulatory structure provides a portable model which can be implemented by other jurisdictions, bringing much-needed jobs and tax revenue.”
“New Jersey iGaming is also a success from a regulatory perspective, with some of the strictest iGaming regulation protocols in the world,” Ifrah said. “These regulations guarantee that operators are accountable, and that players can trust that they will be protected.”
