Card Player – One lawmaker in New Jersey is still advocating for a casino outside of Atlantic City. According to the Associated Press, at a regional gambling conference Tuesday in Atlantic City, Assemblyman Ralph Caputo reiterated that a casino in the Meadowlands would greatly benefit the Garden State. Discussions of such a possibility have been “growing stronger.”
“A casino in north Jersey, to be taxed at 50 or 60 percent, we could do a billion dollars a year in that location,” Caputo said. “We’ve got to be fighting for those customers. That’s what Pennsylvania is doing. That’s what New York wants to do. We’ve got to beat New York to the punch.” Neighboring states are in the midst of gambling expansion plans.
According to the report, Gov. Chris Christie has given struggling Atlantic City a five-year window to rebound from its eight-year-long gaming revenue slump before considering alternatives, such as allowing casinos elsewhere in the state.
Last year, New Jersey lawmakers authorized online gambling in hopes of helping Atlantic City. Revenues have been lower than people originally projected, however. One casino closed in January, and more could close in the future. Caesars Entertainment recently said it wouldn’t rule out closing on of its properties there.
Atlantic City had gaming revenue of more than $5 billion in 2006, but since then has slipped to under $3 billion, losing its spot as the second-most lucrative gambling state in the country.