Final New Jersey casinos’ decision is up to voters
After a decade of revenues’ decline in Atlantic City, the referendum could be the only solution to compete with neighbour Pennsylvania’s casinos, built in 2006.
US.- Yesterday, the New Jersey Senate completed the bill’s path that could allow two new casinos in the Northern sector of the state, 72 miles away from the distinguished gambling city. Authorities approved a referendum that will let voters decide, for the first time in 40 years, the creation of the establishments. November will come with the ballot question that will define the final position of citizens as to casinos in the state.
“This is a very historic day for New Jersey,” commented Ralph Caputo, a Democrat Assemblyman and former casino worker. Caputo explained that since 1976, casinos have only been approved in Atlantic City. “It was a monopoly that existed for many years, many people benefited. But conditions change and if we don’t adapt, we’d become dinosaurs and we’d become extinct,” he added. More backers of the project highlight the need of an instant revival of the state’s economy. As Vincent Prieto, Assembly Speaker, expressed, New Jersey is in need of substantial amount of revenues and Atlantic City is included.
Though the bill could lead to the closure of three more casinos in the gambling city of the state, it establishes that the winning bid must be controlled by a casino operator from there. The initial investment in the further casinos will have to be up to US$1 billion. The constitutional amendment assures that the gross revenue will benefit senior citizens and disabled residents, as well as Atlantic City’s financial rescue. Nevertheless, the gambling region is supported by various opponents to the bill like Mayor, Don Guardian, who expressed: “Look at my face, this is the face of failed promises from the state of New Jersey to fix my city. There will be devastation.”
First results of improvised surveys suggest that some citizens believe that more taxes and job positions will be useful for the state, whilst others are against of any addition to the gambling sector. Meanwhile, casino companies are investing thousands of dollars in advertising campaigns for and against the project. The future location of the probable next casinos is not decided yet, but the Meadowlands and Jersey City are the main targets.
“This will will create thousands of construction jobs and eventually thousands of permanent casino jobs and bring dollars currently being wagered in New York and Pennsylvania back to New Jersey,” commented Jeff Gural, operator of the Meadowlands Racetrack. He plans to build a casino there with Hard Rock, from which he offered to pay 55 percent tax on revenue, whilst Atlantic City’s casinos currently pay 8 percent tax, plus a 1.25 percent in mandatory redevelopment contributions. The truth is Atlantic City’s revenues went from being US$5.2 billion in 2006 to US$2.56 in 2015. However, critics of the project suggest that New York would react by adding casino gambling there to strengthen the competition. “With continuously encroaching competition from New York and Pennsylvania, the longer we wait, the more our window of opportunity closes,” concluded Assemblyman Joseph Lagana.
