Agreement reached on northern New Jersey casino measure

Of all the proposed ballot questions, perhaps the most controversial was a Democratic plan to ask voters to approve a major shift in the way New Jersey draws its legislative districts every decade. “This is extremely important to the entire state of New Jersey”.

“That it’ll bring world-class casinos to the north. That that’s been one of the concerns of mine”. That’s primarily because it’s the closest casino to New York City and northern New Jersey that offers live games such as blackjack, roulette and craps.

This April 24, 2015 photo shows the exterior of the Trump Taj Mahal casino in Atlantic City N.J. On Sunday Jan. 10, 2016, the cioty’s main casino union union threw its support behind a plan by state Senate President Steve Sweeney to hold a referendum on expanding casinos to northern New Jersey.

Still, Sands Casino CEO Mark Juliano is betting that many of them would do just that.

The Senate bill initially would send 50 percent of gambling tax revenue generated by the new casinos to help redevelop Atlantic City; the Assembly would send 35 percent. Should they fail to get their proposals in on time, the bidding would be opened up to other companies.

Pressed on why the proposal could not be revived in ensuring years, Sweeney conceded that it could, but cautioned that New York plans to authorize additional casinos in New York City in a few years.

But there are some hurdles that would have to be cleared before Sands has to worry.

If passed as expected, it will go on the ballot as a voter referendum during the presidential election in November. We do it because we want them to be healthy.

Two new gaming permits will be granted. “It is foolish to think that gaming in North Jersey would do anything but cannibalize an already saturated market in the same way that casinos in Pennsylvania, Delaware, and Maryland have cannibalized ours”.

The expansion would seek to intercept at least some of those players. The deal struck Monday requires at least $1 billion be spent on each of the two new casinos. “This is right for the direction of New Jersey”, said Sen.

“These are the folks who have failed to capitalize on a monopoly”, he said.

And it’s not done building.

“Nobody offers as much entertainment as us, and nobody is offering the complete resort model we are offering”, Juliano said. “You will always need his involvement – not his [specifically], but the governor of New Jersey”, Assembly Majority Leader Louis D. Greenwald said.

Prieto initially wanted only one Atlantic City operators to be able to bid on one casino, while Sweeney was pushing for both from the start. Most of the remaining revenue – after payments to the state’s horse racing industry and to communities that host the casinos – would go to programs and tax relief for senior citizens and the disabled statewide. The Assembly bill would only require one of the two to be owned by an existing Atlantic City operator.

“At the end of the day, this could be an $8 billion investment in our economy”, he said.