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(aesars Interactive Entertainment)

New Jersey's recently adopted law allowing online gambling may already be in jeopardy after lawmakers in both houses of Congress introduced legislation today that would ban gambling on the internet.

The bill, dubbed the "Restoration of America's Wire Act" has a strong supporter in casino mogul Sheldon Adelson, who coincidentally will host Gov. Chris Christie at the annual Republican Jewish Coalition forum later this week. Indeed, according to reports in The Hill, lobbyists for Sands, which Adelson owns, wrote one version of the bill.

The legislation, introduced with bi-partisan support in both houses, would outlaw online gambling and contains no grandfather for the three states - New Jersey, Delaware and Nevada - that already allow online gaming.

The bill's main sponsor in the upper chamber, South Carolina Republican Sen. Lindsay Graham said today that the Justice Department went too far when it claimed the existing law only applied to sports betting.

"This is yet another example of the Holder Justice Department and Obama Administration ignoring the law," said Graham, a member of the Senate Judiciary Committee. "In 1999, South Carolina outlawed video poker and removed over 33,000 video poker machines from within its borders. Now, because of the Obama Administration's decision, virtually any cell phone or computer can again become a video poker machine. It's simply not right."

New Jersey Democratic Sen. Bob Menendez was quick to condemn the bill, which would end the state's as yet unrealized hopes of a financial windfall from online gambling.

"Blanket prohibition of internet gaming will empower black market operators at the expense of responsible states like New Jersey which have invested in creating a secure internet gaming structure," Menendez said in a statement. "This bill would have the perverse effect of putting millions of American poker players at risk while doing nothing to prevent minors from playing online, combat fraud or crack down on other illegal activities."

Christie has long counted on internet gambling to bolster the state's budget, however, initial revenue projections from online gaming, which went into effect in November, were vastly overstated.

The governor put the first year revenue from online gambling at $180 million, but the projection was revised well downward to $34 million.

"We were told by industry at the time that the introduction of online gaming would help energize Atlantic City's ongoing recovery," state Treasurer Andrew Sidamon-Eristoff said last month. "We're pretty bullish on this in the medium-to-long term. But clearly, this hasn't met our expectations for the first fiscal year."

The administration expects revenues to continue to grow propping up both Atlantic City's fortune and the state budget.

A spokesman for the governor did not return an email for comment.