New Jersey Lawmakers Plans to Add more Casinos in Atlantic City
The casino industry in Atlantic City is slowly dying and not many individuals in New Jersey dispute that fact. However, what casino facility owners and New Jersey legislators are at odds on is how to help the gaming industry out of its current financial doldrums.
One gaming proposal that was offered up was to construct four smaller casino hotels to the existing eleven casinos. That idea had been met with criticism from the casino facilities, who fear that more gambling competition would not do any good to their businesses.
Senator Jim Whelan has proposed the bill to construct new casino facilities and on May 12th, 20910, it made it through a Senate Committee with majority support. The new law would require casino developers only be required to construct two hundred hotel rooms instead of the current five hundred rooms required. Officials from the existing casino facilities were on hand for the committee evaluation on the plan.
Joe Corbo, the Head of the New Jersey Casino Association, said that they believe that this proposal would change the rules of casino licensing irrevocably. Corbo petitioned the Senate to slowdown the process of constructing new casino facilities.
Governor Chris Christie has already created an advisory committee to examine the effects of building new casino facilities on the gaming industry in Atlantic City. The committee is also studying the economic and social effects that new casino facilities would have on A.C. However, the Senate is pursuing Senator Whelan's proposal.
A review of the bill and a scheduled vote will be in the agenda of the Senate. Corbo said that other reasons that the gambling industry is having difficulty when he addressed the Senate Committee and he pointed to the absence of excellent convention facilities in A.C.
In the past few years, casinos in Atlantic City had endured double digit drops in gaming revenue. It is only recently that the A.C. industry has experienced a slight improvement in revenues.
News Released: 07/19/2010 14:24 PM
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