New York-based businessman Jeff Gural, who runs the Meadowlands Racetrack in East Rutherford, New Jersey, together with Jim Allen, Chairman of gambling operator Hard Rock International, unveiled on Wednesday plans for the addition of a Hard Rock Casino at the Meadowlands property.
The proposed gambling facility is to feature 5,000 slot machines and 200 gaming tables. Furthermore, it would offer to visitors 10 restaurants, a New Jersey Music Hall of Fame, a Hard Rock Live showroom, and a number of other entertainment options.
Mr. Gural and Mr. Allen pointed out that about $1 billion would be invested in the building of the property and 2,360 construction jobs are expected to be created. Once the casino is completed, a total of 5,000 people would be employed at it.
Developers also promised that the venue would annually generate $400 million in gaming tax revenue for the state. A portion of the revenue will be contributed to help Atlantic City and its suffering gambling industry. In addition to all this, it is expected to reduce the number of New Jersey residents who travel to casinos in the neighboring states of New York and Pennsylvania.
Currently, casino gambling activities in New Jersey are only allowed in Atlantic City-based venues. State legislators will need to amend the constitution, so as for the East Rutherford property to be built and launched.
Earlier this week, Assemblyman Ralph Caputo, together with a number of other state legislators, introduced a bill that called for the addition of a ballot question on the legalization of casino gambling outside Atlantic City. The officials urged for the question to be included in this November’s vote.
Under Assemblyman Caputo’s measure, voters would be asked as to whether they approve of the construction of three new casinos in the Essex, Bergen, and Hudson Counties. The state Legislature will have to back the proposed bill by a three-fifths vote before August 3, so as for the casino question to make it to this year’s vote.
According to Mr. Gural and Mr. Allen, phase one of their multimillion project is to be completed by the summer or fall of 2016 or early in 2017, provided that it gets the necessary approval.
Bergen County officials voiced concerns that the potential construction of the Meadowlands casino might further worsen the traffic situation in the area, as the venue is to attract thousands of visitors. County Executive Jim Tedesco stated that he would work closely with Mr. Gural and Mr. Allen to solve the traffic issues that might arise in the best possible way.
It was not a surprise that Assemblyman Caputo’s proposal met some strong opposition from South Jersey legislators. They argued that three new casinos in North Jersey would take revenue and customers from Atlantic City.
The proposed resolution for the expansion of casino gambling outside the struggling gambling resort would need to be backed by both Senate President Stephen Sweeney and New Jersey Governor Chris Christie.
Sen. Sweeney commented that he approves of the construction of new casinos, but he would like for residents to state their opinion at a 2016 vote. As for Gov. Christie, he announced a few days ago that he would like to see the question put before voters as soon as possible and that he would publicly support the passage of the proposed measure.
