US egaming trade group unveils debut report
IDEA chairman Jeff Ifrah to present findings to Pennsylvania lawmakers later this week
New Jersey’s online gaming industry has generated almost $1bn in economic output and created 3,400 jobs, according to a new report from North America’s first online gaming trade group.
The iDevelopment and Economic Association (IDEA) yesterday unveiled its first publication, titled “The Economic Impact of New Jersey Internet Gaming”.
The project, carried out by Alan Meister, Ph.D. of Nathan Associates and Gene Johnson of Victor-Strategies, analyzed financial and sociological data accumulated since the 2013 passage of the law permitting online gaming in the United States.
The economists found that New Jersey egaming has indirectly generated $998.3m in economic output, 3,374 jobs and $124.4m in tax revenue to state and local governments.
“New Jersey’s experience provides valuable lessons for other US states considering egaming legalization in the future,” said Jeff Ifrah, gaming attorney and IDEA chairman.
“The state’s operating environment and regulatory structure provides a portable model which can be modeled by other jurisdictions, bringing much-needed jobs and tax revenue.”
Ifrah and other members of IDEA will be presenting the report to key Pennsylvania legislators on Thursday, as the state considers online gaming legislation later this month.
“This is the first time politicians will hear from the industry as one cohesive voice,” Ifrah told EGR North America.
“We will be focusing on the job creation aspect in particular because that is a huge factor that often goes overlooked with the egaming industry.”
Alongside the new report, IDEA launched its own website on Sunday, ideagrowth.org, displaying the group’s 20 members, including Paddy Power Betfair, Amaya and GVC.