Could New Jersey Allow Casino Outside Atlantic City?

Zemanta Related Posts ThumbnailCard 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.

SOURCE

Related Stories from This Week in Gambling:

  • Tribal recognition & casino talk The Ridgefield Press - Three state recognized tribes that are seeking federal recognition could push to open more casinos across Connecticut, which has local officials worried about traffic and land claims in the area. The Golden Hill Paugussetts in Colchester and Trumbull, the […]
  • Casinos Applaud California Internet Cafes Court Ruling American Gaming Association (AGA) Senior Vice President of Public Affairs Sara Rayme issued the following statement after the California Supreme Court ruled that Internet sweepstakes cafes are illegal: “Today’s ruling affirms what we already knew: Internet sweepstakes cafes are […]
  • Malaysian Casino Raid Nets 33 Arrests On June 21st 2015, it was reported that in Subang Jaya, police detained 33 gamblers. These gamblers included college students from Singapore, Italy and Iran. The raid came in the early morning after a tip off from the public on the 20th. It has been said by the Oriental Daily that the […]