Proposal for New Casino Outside of Atlantic City
July 14th, 2014 by Site Admin
What advocates hoped for when online gambling became legal in the state of New Jersey last year was increased profit for Atlantic City Casinos. Proponents are not hopeful after Atlantic Club closed in January, Showboat due to close in August and Revel Casino is next unless a buyer is found in bankruptcy court.
New Jersey is one of three states that have legalized online gambling along with Nevada and Delaware with several other states due to follow.
Predictions for internet gambling state tax revenues were at $180 million in fiscal 2014. After Chris Christie signed the budget last June that number was dropped to $160 million.
The state has reported $93 million at the end of May just one month short of the fiscal year. April and May have seen a decrease in revenue following March in what should be a steady upward increase.
There are currently several online Casinos available to New Jersey residents only including 888 Casino providing games for Harrahs Casino. Slots, Video Poker, Roulette and Blackjack. Players new to online gambling or looking for resourceful information regarding skilled games can find more information focused online Blackjack.
According to New Jersey lawmakers a financier wants to build a $4.6 billion Casino in outside of Atlantic City in Jersey City. The currently the law restricts Casinos to Atlantic City only and would require a major policy change.
Recently Raymond Lesniak, State Senator in a briefing said the plan for the Casino would include over a 90 story high hotel and residential tower, world’s largest Ferris wheel plus a car racing stadium that would hold more than 100,000 spectators.
Major investor behind the project is Paul Fireman founder of Reebok who is based out of Boston. Lesniak is in support of the plan after years of being in favor of allowing casinos outside of the boundaries of Atlantic City. Part of the revenue brought in from the outside casino would be used to boost Atlantic City that has struggled for years mainly due to the rise of competition in bordering states.
In order for this proposed plan to take place a state constitutional amendment allowing gambling outside of Atlantic City would be required. According to Lesniak, Paul Fireman is “the real deal” and would like lawmakers to take immediate action putting it on November’s ballot for public vote.
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