As previously reported, Thursday’s meeting of New Jersey lawmakers was expected to tackle the most imminent gambling-related problems of the Garden state and provide resolutions for avoiding further casino closures and stabilizing the struggling economy in general.
During the meeting, lawmakers approved the gambling expansion outside Atlantic City. Now, they are about to propose and pass amendments that would authorise the casino construction in the northern part of the state but residents will also be given the right to state their opinion. A statewide referendum is to be held in November 2016 and residents will decide whether to approve or disapprove of the casino construction.
It became clear that the Assembly and the Senate members are willing to approve the casino establishment in North Jersey. Yet, the determination to remedy the situation is the only thing Assembly and Senate members have in common. The approaches they propose towards solving the gambling issues greatly differ from one another.
The plan of the Assembly includes 35% of the casino revenues to be allocated for boosting the Atlantic City economy while the Senate demands the percentage to be 49% with the tendency to gradual decrease to 33%.
However, there is another side of the coin. New Jersey authorities are also afraid that intensified competition is the last thing the struggling Atlantic City-based casinos need. The resolutions introduced by the Senate and the Assembly are both aimed at allaying these fears. They proposed a percentage of the revenue the new casinos generate to be set aside for helping the Atlantic City economy.
Stephen Sweeney also approved of the North Jersey casino expansion and added that they will keep New Jersey players, who currently roll the dice in Delaware and Connecticut casinos, within the state borders.
Some of the lawmakers raised concerns over the plan, proposed by the Senate and said that the percentage allocated for Atlantic City was too high. However, Sweeney emphasized on the fact that North Jersey casinos will have a positive impact on the unemployment rate.
New Jersey lawmakers have to settle around a decision before January 12th when the legislative session is to conclude. Expectations are a compromise plan to be put forward. As for the referendum bill, it has to either pass by a three-fifths majority before the end of the session or by a simple majority in two legislative years.
