Casino might be built in Northern New Jersey
For decades, much of the gambling action in New Jersey centered on Atlantic City. But New Jersey is looking to expand their operation, as evidenced by how they legalized and regulated online gaming earlier this year. But don’t look for the Garden State to stop here because they’re thinking about building casinos in other parts of the state as well.
As Governor Chris Christie explained, New Jersey is waiting to see if Atlantic City starts to do any better in terms of revenue. However, if he fails to see an improvement, the government may consider gambling expansion in the northern part of the state.
“It’s (2014) obviously a critical year because we need to begin to see progress in Atlantic City, or we’re going to start considering alternatives,” Christie said.
The proposed site for New Jersey’s next casino would be the Meadowlands sports complex in the northern part of the state. Building a casino in this area would help New Jersey pull in tax revenue from some of their residents who currently visit New York and Pennsylvania casinos. Plus it would help replace the Atlantic Club Casino, which will be closed after being sold for parts to Caesars Entertainment and the Tropicana.
Some gaming analysts see the Atlantic Club as the beginning of a dark time for Atlantic City. With revenues falling, it’s expected that some of the smaller AC casinos like Golden Nugget, Showboat and Trump Plaza will have a difficult time remaining open. Former Atlantic City casino publicist Wayne Schaffel explained the dire situation with the following statement:
It will undoubtedly shore up the balance sheets for the remaining eight to 11 properties, but it will also take out anywhere from 1,500 to 3,000 rooms. At the end of the day, the winners will be the few remaining casino companies. The losers will be the thousands of employees who lose their jobs; the state, which will suffer from ever lower revenue and taxes; and Atlantic City itself.