Firm: New casinos could kill half of Atlantic City’s 8 casinos

By Wayne Parry, Associated Press

Friday, June 3, 2016

ATLANTIC CITY, N.J. — A Wall Street analyst predicts as many as half of Atlantic City's eight casinos could be forced to close if voters in November approve two new casinos just outside New York City.

A Monmouth University poll released Thursday shows voters evenly divided on whether to authorize construction of two new casinos near New York City. Hours later, Fitch Ratings predicted that one to four Atlantic City casinos could be forced to shut down if new casinos are built in northern New Jersey.

That prediction is similar to one made by Resorts Casino Hotel president Mark Giannantonio at a major gambling conference last month. He said three to five of his city's casinos could go under if faced with in-state competition.

In its Thursday report, Fitch listed the Trump Taj Mahal, Resorts and the Golden Nugget as the most vulnerable. It also said Bally's faces an uncertain future.

The firm said a 25 percent decline in gambling revenue would wipe out the Golden Nugget's operating income before management fees. It also said a decline of 10 percent in gambling revenue would put the Taj Mahal at risk, while a decline of 20 percent would imperil Resorts.

If the referendum does pass, Fitch predicted it would take four years for a new casino to open closer to New York.

But others have predicted a shorter time frame, particularly at the Meadowlands Racetrack, where operator Jeff Gural and Hard Rock International propose a casino at the existing track complex. The other leading proposal is for Jersey City, where footwear magnate Paul Fireman proposes a casino costing up to $5 billion.

The Monmouth poll found 48 percent of voters in favor of the northern New Jersey casinos and 48 percent opposed.

The telephone poll of 806 adults conducted from May 23 to 27 has a margin of error of 3.7 percentage points.

The poll also found that most voters believe expanding casinos to other parts of the state will hurt Atlantic City. The new casinos would have to contribute part of their revenues to help Atlantic City.

Respondents said that expanding casino gambling will bring some economic benefits to the state overall: 12 percent said it will help the state's economy a great deal, while 42 believe it will help somewhat.

http://vegasinc.com/business/gaming/2016/jun/03/firm-new-casinos-could-kill-4-of-atlantic-citys-8/

Fight for public opinion on north Jersey casinos is underway

Atlantic City's Showboat Is Reopening _ but Without Casino

ABC News

The shuttered Showboat casino hotel will reopen next month — this time as a non-gambling hotel, a developer said Friday. Philadelphia developer ...

Atlantic City's Showboat Casino to reopen in July as non-gambling hotel - World Casino Directory

Atlantic City's Showboat is reopening — but without a casino - Las Vegas Sun

Full Coverage

Motley Fool MGM Resorts International Doubles Down on Atlantic City Motley Fool Full ownership of the Borgata hotel and casino will transfer to MGM Resorts International after it buys out partner Boyd Gaming in a $900 million deal.

Casino.Org News More Atlantic City Casinos Would Close if Gambling Expands, Analysts Opine Casino.Org News The Boardwalk might get a little darker in the coming years if New Jersey allowscasinos to come north, as Fitch Ratings predicts four more Atlantic ...

Mark Ford attends rally to support Gaming

Senate President Stephen Sweeney

RUTHERFORD, NJ -- June 4, 2016 -- Harness racing President Mark Ford along with Anthony Perretti and Mike Gulotta aligned forces with top state Democrats, county officials and union leaders on Friday at a news conference to convey their confidence to the public that casino gambling will be brought to the northern part of the state. Among those who spoke in favor of the expansion were Democrats Senate President Stephen Sweeney, Senator Paul Sarlo, Senate Majority Leader Loretta Weinberg, Senator Bob Gordon, and Bergen County Executive Jim Tedesco.

State Senate President Stephen Sweeney stood at the conference in front of the Meadowlands Regional Chamber of Commerce stating that bringing casino gambling to the area was “the right thing to do for the whole state.”

"This gives us an opportunity to create thousands and thousands of construction jobs in the northern part of the state of New Jersey," Sweeney said. "But guess what; it gives us the ability to create thousands and thousands of jobs in the southern part of the state and helps us to rebuild Atlantic City, and gives Atlantic City the opportunity to be the destination we want it to be."

Building northern casinos will have a ripple effect that will benefit the economy state wide, not just Bergen County, according to County Executive Tedesco.

The Meadowlands is not the only proposed location, Hudson and Essex County are also being considered. However, it is the most important location for New Jersey horsemen.

Tedesco believes the Meadowlands is a “perfect spot” for gaming expansion it is already a “premier entertainment destination” because of the Met Life Stadium, large-scale concerts and the current development of the American Dream project that already take place in the area. “The best is yet to come especially when we add casino gaming to the mix.”

The public will have the opportunity to vote this November on whether or not casinos should be expanded via ballot question. New Jersey Senate Democrats released figures that state casinos could generate an estimated $4 billion in economic activity, and up to 20,000 construction and permanent jobs in North Jersey. The Atlantic City region will also benefit with $3 billion and thousands of jobs. It is very important that all horsemen go out and vote in favor of casino expansion this November.

Courtney Stafford, for the SBOANJ

http://www.harnesslink.com/News/SBOANJ-PRESIDENT-MARK-FORD-ATTENDS-RALLY-TO-SUPPORT-NORTH-JERSEY-GAMING

Fight for public opinion on north Jersey casinos is underway

• By WAYNE PARRY
 
• Updated Jun 3, 2016
• • 
    

RUTHERFORD, N.J. (AP) — With voters evenly split on whether to approve two new casinos in the northern part of the state, a push to get voters to vote yes on the proposal got underway Friday in the Meadowlands region near New York City, where one of the proposed casinos could be built.

Political, business and labor leaders held a news conference in Rutherford to begin to shape public opinion on the proposal, which will be on the November ballot.

It will ask voters whether to approve casinos in separate counties in northern New Jersey, with part of the gambling revenue going to help Atlantic City redevelop itself.

Speakers said a successful campaign will stress the benefits for all of New Jersey and play down a north-south divide.

"This is the right thing to do for the whole state," said state Senate President Steve Sweeney. "What this is trying to do is recapture the dollars of residents who won't go to Atlantic City anymore."

Jim Kirkos, president of the Meadowlands Regional Chamber of Commerce, said the vote-yes camp will stress one central message: that casinos in north Jersey benefit the entire state. Up to $200 million a year in revenue from the new casinos would go to Atlantic City to help it become known as a diversified, family friendly resort that is less dependent on gambling.

A Fitch Ratings report on Thursday warned that north Jersey casinos could wipe out up to half of Atlantic City's eight casinos.

That was similar to a report commissioned by the main opposition group, No North Jersey Casinos, that warned that three to five Atlantic City casinos could go out of business if faced with in-state competition. That group is comprised of casino, business and tourism officials from Atlantic City, Atlantic and Cape May counties.

"We can build and rebuild two great tourism destinations in New Jersey — here and Atlantic City," said Kirkos, the Meadowlands business leader. "How great for New Jersey would that be? This is not about north and south. We can have both."

Democratic Sen. Paul Sarlo, who represents the Meadowlands region, acknowledged there will be well-funded opposition.

"There will be those who oppose this and who will spend a lot of money to oppose it," he said. "It will be a campaign. But this is an investment in New Jersey. That's the most important message we need to get out to voters."

The ballot question does not specify locations for the casinos, other than that they be in two counties at least 72 miles from Atlantic City.

The most commonly mentioned proposals are at the Meadowlands Racetrack in East Rutherford, where track operator Jeff Gural and Hard Rock International want to add a casino to the track complex, and in Jersey City, where footwear magnate Paul Fireman proposes a casino resort costing up to $5 billion.

Key details remain to be determined, including the casino locations and the rate at which they would be taxed. Sweeney and Sarlo would not commit to deciding and publicizing those details through legislation before the November vote. Both said they remain under consideration.

http://www.scnow.com/news/business/wire/article_e1bc4f99-02da-5569-843a-34d406ac9572.html

Casino dealer faces drug, gambling charges

by Kathie Warco
Staff Writer

 

A table games dealer at The Meadows Racetrack & Casino was arrested Thursday for allegedly dealing more than cards while working.

Robert “Scrubby” Roberts, 53, of 178 Locust St., Muse, is accused of selling dihydrocodeine and marijuana to an undercover agent with the state attorney general’s office on two occasions last month. He also is accused of accepting bets from her on two college basketball championship tournament games.

The attorney general’s office, jointly with state police at the casino, charged Roberts with eight counts of possession with intent to deliver a controlled substance, four counts of possession of a controlled substance and one count of engaging in bookmaking.

Court records filed at the office of District Judge Jay Weller show that investigators developed information in February 2013 that a table games dealer, later identified as Roberts, was involved in the distribution of controlled substances and illegal bookmaking.

A special agent working undercover reportedly met with Roberts March 7. She said she purchased 3.9 grams of marijuana and 20 dihydrocodeine tablets, using $299 in official funds.

On March 20, the undercover agent again met with Roberts. She reported purchasing 12.7 grams of marijuana and 18 tablets of dihydrocodeine, this time paying $360.

Also March 20, she said she met Roberts at Trotters Bar, which is located in the casino/racetrack area, and wagered $55 on the Pitt-Wichita State basketball game. She also reportedly placed a $55 bet on the Creighton-Cincinnati game. The agent said she bet on Pitt and Creighton.

Roberts allegedly met her March 26 in the parking lot of McDonald’s on Meadowlands Boulevard to pay her $125 for her winning wager on the Creighton game.

The drugs were sent to the state police crime lab for chemical analysis and tested positive, authorities said.

During arraignment, Weller told Roberts that the charges are serious and that he could face jail time.

“It was just a stupid move,” Roberts told the judge.

Weller released Roberts on $50,000 bond and told him he is not to return to the casino between now and his March 3 preliminary hearing. Roberts told Weller Thursday that he is not sure of his status with the casino.

 

http://www.observer-reporter.com/article/20140220/NEWS01/140229958

 

 

Never learning the lessons of Atlantic City

Atlantic City is the poster child for all that is wrong with Predatory Gambling with increased crime, increased poverty, lack of economic development, destruction of local businesses, homelessness, corruption and so on.

The cheerleaders are preparing their arguments for spreading that destruction on the pretext of saving horse racing.

Herald News: Casino player at the Meadowlands

Sunday, April 28, 2013
Herald News

THE MEADOWLANDS could use a little rock 'n' roll and Hard Rock International may be just the ticket. It is investing in the New Meadowlands Racetrack.

Governor Christie wanted to get the state out of the horseracing business. The sale of the racetrack at the Meadowlands was an important part of that process. Private ownership is creating a smaller grandstand reflecting current interest in horse racing, which makes more sense than the old model.

What would make even more sense would be the addition of casino gambling.

We continue to oppose the state's efforts to bring gambling into the living rooms of New Jerseyans through online casino-style games. We also see no benefit in expanding the kinds of sporting events that are open to betting. But we recognize casinos are all around New Jersey and the days of Atlantic City's primacy are long gone. In North Jersey, gamblers can travel either to New York or Pennsylvania with greater ease than to Atlantic City. And they are.

Christie has pledged to keep gambling solely in Atlantic City while a five-year plan to restore the luster to A.C. is given a chance to work. While we hope Atlantic City will reinvent itself as a family destination, it cannot change its geographic location. Refusing to see the revenue potential in a North Jersey casino site is myopic on the part of state leaders. It is also self-serving on the part of powerful South Jersey politicians.

That brings us back to the good news of Hard Rock's presence at the Meadowlands. There was hope two years ago that a Hard Rock hotel and casino would open in Atlantic City. The failing economic climate in Atlantic City proved unattractive to Hard Rock management.

Investing in the Meadowlands is a sign that the company sees great value in New Jersey.

If state law changes to allow casinos outside of Atlantic City, Hard Rock is poised to develop one in the Meadowlands. Keeping the corporation engaged in New Jersey also keeps a door open for Atlantic City investment, as well. It is rare when we see such a good corporate fit for future Meadowlands development.

We have only to look at the failed Xanadu site to realize what the consequences are when the developer and investors are not equal to the task at hand. A Hard Rock hotel and casino at the Meadowlands would complement the American Dream concept for the failed Xanadu, and it would also augment MetLife Stadium. For now, all of that is pure speculation. What is real is Hard Rock's investment in the racetrack and in New Jersey. And that is good news, indeed.

http://www.northjersey.com/news/opinions/205053791_Herald_News___Casino_player_at_the_Meadowlands.html

NJ: Sucking $$$ from the poor

Around the globe, betting on sporting events have led to corruption scandals involving match fixing and organized crime.

New Jersey is so poorly managed, has experienced such historic corruption and fiscal mismanagement, they are desperate to suck every $$$ for residents' pockets and betray the public trust. Republican Governor Chris Christie is willing to suck discretionary income from the pockets of the poor before adopting sound fiscal policy.

 This bears watching.

Meadowlands Matters

 

Discovery – or harassment? NJ Sports Betting lawsuit update

Posted on Sunday, September 30, 2012

by John Brennan

 

Should attorneys representing New Jersey be permitted to obtain depositions from NFL Commissioner Roger Goodell, NBA Commissioner David Stern, and other league bosses as part of the discovery process in the leagues’ lawsuit against the Garden State’s bid to offer sports betting?

That’s just one of several issues that have gone before federal Judge Lois Goodman on Thursday without a resolution at hand (if you need to catch up on this case, go HERE)

State attorneys say the depositions should be allowed because “The Commissioners themselves each have claimed to possess direct and personal knowledge about the impacts New Jersey’s legalization of sports wagering may have on Plaintiffs’ operations.” As an example, attorneys note that in his declaration to the court, Stern – a Teaneck High grad, by the way – wrote in part, “The sports gambling scheme contemplated by the State of New Jersey threatens to alter these fundamental characteristics of NBA basketball.”

But attorneys for the plaintiffs say that the declarations “were not submitted in support of Plaintiffs’ motion for summary judgment, and that Plaintiffs are not relying on them for that motion. Those declarations were submitted solely in connection with the alternate motion for a preliminary injunction…. At this point, Defendants’ dogged refusal to acknowledge Plaintiffs’ representations on this score can be understood as nothing more than harassment.”

At least the two sides agree on one thing: “The parties also respectfully request an in-person hearing with the Court early next week or as soon thereafter as the parties may be heard.”

A look at some of the other issues:
……….
There are seven points of contention:

1. “Whether Plaintiffs’ Alleged Injury-In-Fact Is Subject To Discovery” – The leagues say that “no discovery should be allowed because their…. standing can be resolved as a matter of law.” The defense argues that the court already has denied a bid to prevent any investigation, on Aug. 30 allowing discovery “narrowly tailored to address only the issues raised by Plaintiffs’ pending motion for summary judgment.” New Jersey attorneys note that while the leagues contend their standing “is established as a matter of law,” that contention was not part of the argument for summary judgment.

The state is fishing for “studies, analyses and memorandums regarding the impact that sports gambling has on their viewership, ticket sales, reputation, fan interest and fan loyalty….” The leagues counter that they have “already produced more than 2200 pages” of discovery material. Additional requests, they say, are “far-reaching and overly broad.” They also promise not to rely on any witnesses or declarations in their preliminary injunction attempt.

2. “Whether Defendants May Take Discovery Relevant To The Relief Requested By Plaintiffs’ Motion For Summary Judgment” – This has to do with the leagues seeking a permanent injunction against NJ sports betting. The dispute is whether a 2006 ruling in an EBay case applies. If so, the leagues have to show “irreparable harm” – a very high hurdle, given that the leagues are doing fine with Nevada offering the same product for decades. The leagues instead refer to a 2009 federal case where Delaware lost on its attempt to expand beyond the limited NFL parlay betting it has, with a summary judgment settling the matter. The 20-year-old law that prohibits this gambling, the leagues say, intends to allow such injunctions against any state attempting to move sports betting forward.

3. “Whether Witnesses Submitting Declarations In Support Of Plaintiffs’ Motion For Summary Judgment Or A Preliminary Injunction May Be Deposed” – we addressed this one at the top.

4. “Whether Defendants May Take Deposition Testimony From Representatives Of The Plaintiffs

Under Federal Rule Of Civil Procedure 30(b)(6)” – Similar point, with the state adding that it wants to know more about regulatory system that help casinos detect fraud as well as how leagues and NCAA also benefit from fantasy sports and March Madness. The leagues counter that the issue at hand has to do with state sponsorship of sports betting.

5. “Whether The Purported Benefits Plaintiffs Draw From Sports Gambling Are Subject To Discovery” – An expansion of the point about the “benefits” of gambling to the leagues, who counter that state-sponsored betting don’t help them at all.

6. “Whether Plaintiffs Must Produce A Privilege Log” – State wants one, and leagues say “there is no privilege log to be produced.”

7. “Whether Plaintiffs Must Search For Electronically Stored Information And Internal Correspondence” – Again, New Jersey wants more, and the leagues object to “further costly and time-consuming discovery.”

 

http://blog.northjersey.com/meadowlandsmatters/3679/discovery-%E2%80%93-or-harassment-nj-sports-betting-lawsuit-update/

 

 

 

New Jersey: It's Been Done Before!

Nothing defines the failure of Predatory Gambling more than Atlantic City.

Voters had the sense to oppose a statewide referendum until Gambling was limited to Atlantic City, imposing the devastation on the poor, mostly black, on pretense of paving the streets with Gold.

[Although this gem is out-of-print, it is highly recommended for its thorough insight and research, sometimes available on Alibris.]
There are many reasons which are uncorrectable, inherent in the Industry and Gambling Addiction. Yet, Atlantic City's failures stands as a lesson, ignored by lawmakers blinded by glittering lights, garish facades and false promises.

Although Massachusetts has deluded itself believing 'We can get it right!', the TRUTH can't be changed.  

What is truly pathetic is New Jersey lawmakers ignoring the economic disaster before their eyes, THE EVIDENCE and supporting 'EXPANSION' to another venue.

Lest those Massachusetts cheerleaders wrongly believe their immunity, it was clearly highlighted by the EXPERTS during the Gam[bl]ing Commission's Edumacational Forum that EXPANSION is a given. It's in the future!

There is NEVER a LIMIT!   

The Slot Barn that is licensed, whether it's Plainridge or Raynham will next receive Table Games, just as Twin River and Newport Grand. The numbers of Slot Machines will increase. The number of venues will increase. The amount of discretionary income sucked out of the local economy will increase, as will crime.Local businesses will implode, low wage jobs will be created while unions pretend otherwise.  It's been done before as New Jersey is proving.

Will casinos pop up in the Meadowlands?
Lawmakers debate issue, local voices weigh in
by Adriana Rambay Fernández Reporter staff writer
Hudson Reporter
Aug 12, 2012

GAMBLING IN THE MEADOWLANDS – New Jersey State lawmakers are considering whether to bring casino gaming to the Meadowlands area.

Whether permanent or “pop-up,” New Jersey lawmakers are looking for ways to bring casino gaming to the Meadowlands in East Rutherford. For some Secaucus residents, it could mean more tourists and traffic; for others, it could mean a night of gambling only a few minutes away instead of a drive.

Proponents for the measure say that casino gaming will make the state more competitive against casinos in neighboring states like New York and Pennsylvania, while opponents say that the presence of casinos in the north will hurt Atlantic City’s economic recovery and will cost the state jobs, and revenue.

Assemblyman Ralph Caputo (D-Essex) has authored a bill, ACR53, to establish casinos in Bergen County (where East Rutherford is located) by 2013.

Bringing casino gaming to the Meadowlands requires a constitutional amendment. With major opposition from Gov. Christopher Christie and state Senate Pres. Stephen Sweeney (D-Gloucester), it is unlikely voters will see a statewide referendum on the November ballot.

Tapping into a market

Assemblyman Ruben Ramos Jr. (D-33rd Dist.), a Hoboken resident, chairs the Assembly’s Regulatory Oversight and Gaming committee and advocates the amendment. He said last month in a statement that “expanding gaming options to the Meadowlands could strengthen New Jersey against that competition that has already lured customers away.”

Ramos has been a lead advocate on the issue and recently convened a hearing on July 19 in the Meadowlands to hear testimony from both sides.

Assemblyman Vincent Prieto (D-Hudson/Bergen), a Secaucus resident, testified at the hearing in favor of bringing casinos to the area.
_____________
“Atlantic City is always going to be Atlantic City.” – Vincent Prieto
____________ “You see buses everyday leaving here going to Bethlehem Pennsylvania, Yonkers, and Connecticut,” said Prieto.

Prieto said he felt that there was a “universe” of clientele from the metropolitan area that the state is not capturing. These individuals are referred to as “convenience gamblers.”

“It is amazing, the amount of people that come here,” noted Prieto. “People that aren’t going to Atlantic City would come to the Meadowlands…we are next to New York City.”

He said that the Meadowlands district has 8,800 hotel rooms. Secaucus has 13 hotels that are at 90 percent occupancy year-round, with potentially two more hotels on the way.

“We think a casino here would generate about $350 million in tax revenue for the state and all 12 casinos combined in Atlantic City don’t even generate $250 million, “said Jeff Gural, chairman of the New Meadowlands Racetrack, during the hearing held in July.

Eyes on Atlantic City’s turnaround

Christie opposes casino gaming in the Meadowlands and has said that Atlantic City’s five-year plan for economic revitalization should come first.

Christie has touted a $20 million publicity campaign with the slogan “Do AC,” which launched earlier this year to draw more tourists to Atlantic City. He has also has supported the recent opening of Atlantic City’s first new casino in nine years – Revel casino. But Atlantic City’s total revenue for casino gambling has continued to decline, according to Bloomberg news reports.

Christie told reporters in Trenton on July 19 that the conversations about bringing casino gaming to the Meadowlands are a “waste of time.” He said that even if he supported the measure, there was little chance that Sweeney would put forth any such legislation. Sweeney, who represents southern counties, is also behind solely focusing on the economic turnaround plans for Atlantic City. Any bills on the issue would have to be posted by him for votes in the legislative chamber.

North vs. South

Prieto said that the issue has been framed as the north against the south and that thinking the measure is detrimental to Atlantic City reflects “the old way of thinking.”

“Atlantic City is always going to be Atlantic City,” said Prieto. “It has something Mother Nature gave to them – the beautiful beach.”

“Atlantic City has huge, huge hotels, night clubs, [and] all the big stars. Atlantic City is equivalent to Las Vegas,” said Secaucus Councilwoman Susan Pirro, who supports casinos in the area. “I don’t think that is something they are looking to have here in the Meadowlands.”

She said she felt the casinos would be good for the economy.

Secaucus Councilman Gary Jeffas said that he would want to look further into the issue to determine how it would impact residents. He was concerned about the impact a casino would have on traffic in the area.

Prieto said that the area is already saddled with traffic and that casinos would offer revenue to help improve road infrastructure.

Pop-up as middle ground?

Given the slim chances of a permanent casino going up soon in the Meadowlands, state Senate Majority Leader Loretta Weinberg (D-Bergen) last month in a radio interview proposed the idea of setting up a temporary “pop-up” casino in the Meadowlands Sports Complex during the 2014 Super Bowl at MetLife Stadium.

Weinberg told CBS radio “putting something right in the area where most of the people will be could attract more visitors, bring more income to the state of New Jersey, and give people who are coming in for the Super Bowl another venue to enjoy.”

However, the measure would still require a public referendum.

Assemblyman Tim Eustace last month said he intends to propose a pilot project over the next four years to create a new policy for gaming in New Jersey, one that will benefit all of New Jersey without hurting the state’s long term goals of revitalizing Atlantic City. He said pop-up casinos would do away with speculation about the impact casinos in the Meadowlands would have on Atlantic City.

Adriana Rambay Fernández may be reached at afernandez@hudsonreporter.com.

Read more: Hudson Reporter - Will casinos pop up in the Meadowlands Lawmakers debate issue local voices weigh in
For additional information:

Dear Mr. Crosby: Trust, but verify!
If it weren't so serious....

Poverty in Atlantic City

The Fools' Gold of Atlantic City

The Desperation of Atlantic City and False Promises

Atlantic City Union Casino Workers Face Poverty


There are about 200 articles here [click Older Posts at the bottom to see more] --
http://middlebororemembers.blogspot.com/search/label/Atlantic%20City

Propping Up Dying Racetracks

At least someone is telling the truth about the dying racetracks!

Below is Suffolk Downs, the racetrack in the Boston area [East Boston] that pretends a Slot Barn will magically resurrect horse racing --

Attempting to prop up a dying industry such as horse racing would be short-sighted under any circumstances. Undermining Atlantic City in order to prop up a dying horse-racing industry would be downright absurd.






Slots at the Meadowlands / Still a bad idea
Posted: Monday, July 23, 2012 12:01 am

Slots at the Meadowlands / Still a bad idea

The Meadowlands Racetrack and other tracks in New Jersey - indeed, racetracks across the nation - are struggling.

Why? Because not enough people go to the track anymore.

It's a shame. But when people stopped going to drive-in movies, the drive-ins closed.

And the argument that New Jersey must allow gambling at the Meadowlands to keep the track alive should be a non-starter. But it's the bad idea that just won't go away.

Last week, North Jersey legislators arranged a hearing before the Assembly Regulatory Oversight and Gaming Committee to promote, once again, the idea of putting slot machines at the Meadowlands.

Jeff Gural, the new operator of the Meadowlands, started by talking about the jobs that are going to disappear if the track doesn't get slot machines. "I cannot survive" without gambling, he said.

Then he sweetened the pot by informally agreeing to a tax of 50 percent on track slot revenue, which he said would yield $350 million a year for the state.

But at what cost to the state's - and the private sector's - considerable investment in Atlantic City?
If racetracks can't survive on their own, they deserve to die. That's how capitalism works.

But because of the inexplicable political clout of New Jersey's horse-racing industry, Atlantic City's casinos propped up the tracks for years with tens of millions of dollars in subsidies. Gov. Chris Christie killed those subsidies, and the money now - sensibly - funds the Atlantic City Alliance's marketing efforts. So the push is on once again to "save" the tracks.

Yes, other states have allowed slot machines at racetracks. But those states don't have an Atlantic
City, where billions of dollars have been invested to create a destination resort. It makes no sense to abandon Atlantic City, which is what allowing slots at the Meadowlands would amount to.

As Christie has noted, the resort is in the early years of a five-year plan to resurrect itself.

Undermining that plan now to prop up a dying racetrack would be foolish.

Furthermore, as Assemblyman Chris Brown, R-Atlantic, told the committee, continuing this debate about slots at the Meadowlands is creating uncertainty in the Atlantic City market and undercutting efforts to attract more investment.

Attempting to prop up a dying industry such as horse racing would be short-sighted under any circumstances. Undermining Atlantic City in order to prop up a dying horse-racing industry would be downright absurd.


http://www.pressofatlanticcity.com/opinion/editorials/slots-at-the-meadowlands-still-a-bad-idea/article_f8a3e08d-ab89-5c15-86ed-26cdffbbf830.html