N.J. Stat. § 5:8-51.5
The Legalized Games of Chance Control Commission shall adopt regulations, pursuant to the "Administrative Procedure Act," P.L. 1968, c.410 (C.52:14B-1 et seq.), authorizing licensees to hold and conduct punch-board games.
A "punch-board" means a board with a number of openings of uniform size in which the manufacturer placed, at random, slips of paper or other substances or punches imprinted with numbers or symbols; where a flare or face sheet covers the openings and sets out the winning numbers or symbols and which prizes a player may win; and the punches have specific serial numbers assigned and printed on them.
A punch-board game shall allow a player, after buying a punch, to select and remove the punch from the opening of the punch-board, and, if the number on the selected punch matches the flare, to win and be awarded the specified prize.
The control commission's regulations shall allow the punch-board games to be conducted under the same license issued for the conduct of pull-tab raffle games, and only one license shall be required for the conduct of pull-tab, punch-board, or both types of games. The control commission may specify any other requirements applicable to the conduct of punch-board games which the commission may deem necessary.
N.J.S. § 5:8-51.5