Denver law firm cashes in on New Jersey’s online move with earnings of $4.7 million for ensuring that newly launched online casinos are compliant with New Jersey’s regulations.
Ever since the US gambling laws have changed to allow individual states to license online gambling, online and mobile casinos in the state of New Jersey faced a number of teething problems launching their internet gambling sites.
It looks like the real winners so far are the lawyers and lobbyists hired by gambling firms, who have to give the state’s elected officials the nudge to get the ball rolling.
While those following the online gambling news in the US are waiting for the figures to be released by the New Jersey Division of Gaming Enforcement, the revenue of the law firms contracted by the gambling firms certainly points to a jackpot win.
Lawyers win big in New Jersey’s online gambling launch
Denver-based firm Brownstein Hyatt Farber Schreck earned a whopping $4.7 million from the recent online move, whose clients include Caesars Entertainment, Bwin.party and Wynn Resorts.
Caesars Entertainment showered its lobbyists with plenty of cash, paying the law firm $2.16 million in the period spanning 2010 to 2013 for its financial, consulting and lobbying services.
Another name that appeared on a few forms for “market advisory services” is Mark Lipparelli, the former Nevada Gaming Control Board chairman.
Lipparelli received $160k in 2013 from Fertitta Acquisition Co., an offshoot of Station Casinos. Lipparelli’s name also came up with Betfair Interactive who contracted Lipparelli for consulting purposes.