Changes, challenges about to hit NJ casino market
The ground is moving underneath New Jersey’s casino market, which is facing huge changes and challenges.
The issue of whether legalized gambling should be expanded beyond Atlantic City is now front and center due to a proposal for a casino at the Meadowlands Racetrack, and Gov. Chris Christie’s support of letting voters decide whether it should be allowed.
The proposal from Hard Rock and the Meadowlands comes as Atlantic City lost four of its 12 casinos last year.
Track owner Jeff Gural says the Meadowlands casino could provide $500 million a year in taxes, $200 million of which would go to help Atlantic City.
New Jersey’s Constitution would have to be amended to allow gambling outside Atlantic City, but momentum for such a vote is growing.
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