In June, New Jersey lawmakers began to ruminate about creating legislation that could pave the way for the construction of three new casinos outside of Atlantic City, prompting municipal officials and developers across the state to make pitches for their towns and cities.
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The Senate version would require that both new casinos be owned by existing Atlantic City casino operators, and it would initially send 50 percent of gambling tax revenue they generate to compensate Atlantic City for projected losses from in-state competition. Cape May County Senator Jeff Van Drew (D) suggests if those new casinos were to open, the Atlantic City gaming market would be damaged beyond fix.
“‘We’ve been talking about moving Atlantic City away from being gaming centric … three great examples, continuing education, corporate offices, and brand new housing that we haven’t had for more than 20 years”, said Guardian, the city’s first Republican mayor since 1990.
So far, Senate president Steve Sweeney and Assembly Speaker Vincent Prieto have dug in on their own proposals. But in September, Don Ghermezian, the company’s chief operating officer, told The Record that a casino at the Meadowlands Sports Complex, where American Dream is located, would give tourists “another reason to stay in New Jersey and spend money in New Jersey”.
The elections take place in November 2016 and both sides have been urged by numerous parties to reach an agreement as to which proposal is going to be put before the voters.
But they say she hit it big after playing one machine for just five minutes.
If New Jersey voters decide to expand casinos outside of Atlantic City, how should the profits be divided?
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The bill now goes to the full Assembly. The Senate has already passed it. The Legislature made changes Christie requested, including having the $30 million a year that would have continued to fund the Atlantic City Alliance be held by the state for two years until the city adopts a financial reform package acceptable to the state.
