Atlantic City’s financial assistance package fate is uncertain

Tuesday’s deadline passed and New Jersey’s governor took no action.

US.- Atlantic city has been struggling financially for some time now, after the opening of a casino in Pennsylvania in 2006. In 2014, four out of the city’s eight casinos closed its doors and 2015’s figures follow this declining trend. A referendum to allow two casinos in the north of the state poses another threat for the already beaten up city.

Due to this situation, a financial and casino aid package for Atlantic City was supposed to be discussed yesterday, but Governor Chris Christie has not yet taken any actions regarding the package’s three bills, missing Tuesday’s deadline.

The most important decision to make in connection with this financial help, was a bill that would allow the city’s remaining eight casinos to make payments in lieu of taxes, for the next 15 years. Back in November, the Legislature passed the package the first time and Governor Christie vetoed it. The terms of the package requested changes in the allocation of the financial aid, giving the state more control over the time when Atlantic City would receive the funds.