New Jersey governor signs sports betting bill into law

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(Reuters) – New Jersey Governor Phil Murphy on Monday signed a bill to legalize sports betting, opening the door for the state to regulate and tax the activity at casinos and racetracks.

FILE PHOTO: New Jersey Governor Phil Murphy speaks after taking the oath of office in Trenton, New Jersey, U.S., January 16, 2018. REUTERS/Lucas Jackson/File Photo

“Our casinos in Atlantic City and our racetracks throughout our state can attract new business and new fans, boosting their own long-term financial prospects,” Murphy said in a statement. “This is the right move for New Jersey and it will strengthen our economy.”

Reporting by Hilary Russ in New York; Editing by Sandra Maler

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