• Subscribe
  • Magazines
  • About
  • Contact
  • Advertise
Wednesday 6 August 2025
  • zh-hant 中文
  • ja 日本語
  • en English
IAG
Advertisement
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
No Result
View All Result
IAG
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
No Result
View All Result
IAG
No Result
View All Result

No End for Atlantic City’s Woes

Newsdesk by Newsdesk
Tue 26 Apr 2016 at 03:52
Print Friendly, PDF & Email

New Jersey’s twin legislative chambers approved a referendum on a constitutional amendment to end Atlantic City’s gambling monopoly and allow two new casinos in the state’s north close to New York city. Atlantic City itself, meanwhile, edged closer to government shutdown amid an impasse over the city’s finances, with state governor Chris Christie warning opponents “not to play chicken.”

The state referendum will be held in November. Proponents of the new casinos say they will increase New Jersey’s overall gaming tax revenues, with up to one third of contributions to be made available for Atlantic City’s regeneration. Yet critics complain the specifics of the new arrangement will not be legislated on until after the ballot. These details include specifying the tax rate levied on the new gambling halls (perhaps as much as 50% of gross gaming revenue, compared to 9.25% now paid in Atlantic City), together with who will pay for their necessary infrastructure. A Rutgers- Eagleton poll showed only 44% of New Jersey residents would vote yes, with 49% saying they oppose casino expansion.

In the nearer term, Atlantic City will have to shut down nonessential services if the state does not provide it with a loan before mid-April. Mayor Don Guardian has been pushing for an aid package with measures to extract more tax from Atlantic City’s casinos. Without it he says the city will be forced into bankruptcy, which analysts say could hurt the credit ratings of municipalities across the state. Christie says he will not support the package without a state takeover of Atlantic City’s finances, allowing Trenton to sell off city assets and break contracts with public sector unions. “I will not permit politicians in the state to blackmail the people and taxpayers of New Jersey,” he said, pointing out that Atlantic City’s government spending is nearly three times that of New Jersey’s biggest city Newark.

Atlantic City’s gambling industry collapsed after states neighboring New Jersey allowed casinos of their own, starting with Pennsylvania in 2006. Since then the resort town’s annual casino revenue has fallen from $5.2 billion to $2.5 billion. In 2014 alone, four of its 12 casinos closed, and last year Atlantic City’s housing foreclosure rate was the highest in the country.

RelatedPosts

10 Years Ago: The Star war

NSW casinos given two-year reprieve on plan to lower daily cash limit to AU$1,000

Wed 6 Aug 2025 at 05:21
Grand Korea Leisure books US$11.4 million profit in 1Q25 on higher casino sales, better margins

Casino revenue at Grand Korea Leisure up 12% month-on-month to US$28 million in July

Wed 6 Aug 2025 at 05:03
First auction of Imperial Pacific gaming equipment postponed

IPI’s abandoned Saipan hotel and casino building shows signs of wear and tear but no immediate danger ahead of planned sale

Tue 5 Aug 2025 at 05:34
Casino revenue at Korea’s Paradise Co up 23% year-on-year to US$55 million in July, slightly down sequentially

Casino revenue at Korea’s Paradise Co up 23% year-on-year to US$55 million in July, slightly down sequentially

Tue 5 Aug 2025 at 05:14
Load More
Tags: Atlantic CitycasinoNew Jersey
ShareShare
Newsdesk

Newsdesk

Current Issue

Editorial – Better late than never

Editorial – Better late than never

by Ben Blaschke
Thu 31 Jul 2025 at 07:13

Inside Asian Gaming has in recent weeks been hearing increasing chatter around a possible move by Vietnamese authorities to introduce...

Angel’s Yasushi Shigeta

Angel’s Yasushi Shigeta

by Ben Blaschke
Thu 31 Jul 2025 at 07:08

Yasushi Shigeta, Chairman and owner of one of the world’s largest gaming industry suppliers, Angel Group, sits down with Inside...

The Magic Number

The Magic Number

by David Bonnet
Thu 31 Jul 2025 at 06:41

In this in-depth deep dive into the evolution of the Asian gaming landscape, David Bonnet argues that many regional jurisdictions...

Rashid Suliman – A road well traveled

Rashid Suliman – A road well traveled

by Ben Blaschke
Thu 31 Jul 2025 at 02:45

Rashid Suliman, Vice President of Global Gaming Asia-Pacific for casino solutions provider TransAct Technologies, provides some insight into his unique...

Evolution Asia
Your browser does not support HTML5 video.
Aristocrat
GLI
Nustar
SABA
Mindslot
Solaire
Hann
Tecnet
HKUST
NWR

Related Posts

The 2022 Asian Gaming Power 50

South Korea to trial visa-free entry for Chinese group tourists from 29 September

by Pierce Chan
Wed 6 Aug 2025 at 19:03

The South Korean government plans to trial a visa-free entry policy for Chinese group tourists from 29 September 2025 to 30 June 2026. According to a report by Yonhap News Agency, South Korean Prime Minister Kim Min-seok mentioned the plan...

AUSTRAC CEO Brendan Thomas named speaker for Sydney’s Regulating the Game 2025

OPINION: Entain’s repositioning and the compliance reckoning Australia’s clubs can’t ignore

by Paul Newson
Wed 6 Aug 2025 at 15:03

Newly appointed Entain Australia interim CEO Andrew Vouris is wasting no time making a statement. “I want us to win, yes, but not at all costs,” he said recently. It’s a line that marks a conscious shift in tone and...

IAG receives 276 public nominations for 2025 IAG Academy IR Awards, Official Nominees to be announced Monday

IAG receives 276 public nominations for 2025 IAG Academy IR Awards, Official Nominees to be announced Monday

by Newsdesk
Wed 6 Aug 2025 at 13:43

The public nominations period for the 2025 IAG Academy Awards has closed and the countdown is now on until next Monday, 11 August, when Inside Asian Gaming will announce the Official Nominees. This year’s IAG Academy IR Awards comprise 23 award categories, one...

Game changer: WPT’s Adam Pliska

Tournament poker now legal in Thailand as Acting PM overturns long-standing ban

by Ben Blaschke
Wed 6 Aug 2025 at 05:52

Tournament poker is now officially legal in Thailand after the government on Monday overturned a long-standing ban on the activity. According to The Bangkok Post, Acting Prime Minister Phumtham Wechayachai signed an order legalizing poker games for money under controlled...

Your browser does not support the video tag.


IAG

© 2005-2025
Inside Asian Gaming.
All rights reserved.

  • SUBSCRIBE FREE
  • NEWSFEED
  • MAG ARTICLES
  • VIDEO
  • OPINION
  • TAGS
  • REGIONAL
  • EVENTS
  • CONSULTING
  • CONTRIBUTORS
  • MAGAZINES
  • ABOUT
  • CONTACT
  • ADVERTISE

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • Subscribe
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
  • Events
  • Contributors
  • Magazines
  • Advertise
  • Contact
  • About
  • Home for G2E Asia

© 2005-2025
Inside Asian Gaming.
All rights reserved.

  • English