Report calls for new casino regulations in AC
The report says that the city needs new regulations as it stabilised after a 10-year brutal stretch.
US.- Atlantic City experienced a few years of extremely bad financial results, which led to several casinos closing their doors. Now that the industry has stabilised, experts believe that the city needs new regulations.
The state’s transition report, which was co-authored by Jim Johnson, discusses Atlantic City’s situation and recommends that policymakers take a look at whether the city needs a regulatory reform to make sure that the market’s stability continues and allows it to compete with other states.
The report also briefly discusses the idea of capping the number of casinos or the total capacity of gaming parlors in Atlantic City, Press of Atlantic City revealed.
“Atlantic City’s fortunes remain closely tied to the health of the casino industry,” the transition report stated.”The shuttered casinos now haunting the boardwalk are powerful reminders that while there can be significant benefit from learning lessons from failure, there can also be devastating costs to forging ahead without heeding those lessons.”
James T. Plousis, chairman of the Casino Control Commission, said: ”[The agency] has reviewed the (transition) report’s recommendations and is committed to working with the (state Department of Community Affairs) and other relevant agencies to assess the best path forward for Atlantic City.”
