In a week marked by last-minute budget chaos in Trenton, legislation to reauthorize internet gaming has also been on a bit of a rollercoaster ride coming down the stretch.

Earlier this month, NJBIZ reported the unanimous advancement by the Senate Budget and Appropriations Committee of Senate Bill 3075, legislation that would support and extend online gambling for another 10 years (the original decade-long authorization is set to expire in November). That measure was widely believed to have a similar outcome in committee on the Assembly side on its way to a full vote before being signed into law.

However, a last-minute amendment by an Assembly committee Tuesday reduced the reauthorization period from 10 years down to just two years, shocking and outraging a number of casino officials, lobbyists and business organizations. It also came as a surprise to many lawmakers who scrambled for answers themselves as the bill advanced.

Wednesday night things shifted once more when Assembly Bill 2190 was amended to reauthorize internet gaming for five years, until 2028, and voted out of committee.

While casino and business stakeholders remain puzzled as to why things changed so dramatically at the last minute, the move to a five-year reauthorization seemed to assuage some of the initial concerns.

“The Chamber of Commerce Southern New Jersey (CCSNJ) is incredibly pleased that the General Assembly shifted away from a drastic and unexpected two-year internet gaming reauthorization window to a more reasonable five-year reauthorization through 2028,” said Christina Renna, president and CEO, Chamber of Commerce Southern New Jersey, in a statement. “Although not the 10-year window the bill’s sponsor initially intended, this adjustment still allows for the sports betting industry to grow and thrive in New Jersey with a five-year security in its operating ability. It is the element of certainty through 2028 that will lead to continued industry success by way of strong revenue collections, benefitting both the State of New Jersey, as well as Atlantic City’s casinos.”

As NJBIZ has extensively detailed, internet gaming has grown into a vital cog in the state’s overall gaming sector. Last year, online casinos generated more than $1.66 billion in revenue, while accounting for nearly 30% of total gaming revenue. Since its inception in 2013, it has generated more than $1.065 billion in taxes for the Garden State.