On Friday, a “who’s who” in the New Jersey gambling world turned out to the Atlantic City Convention Center. The topic: how to rejuvenate the city’s fledgling casinos and, at the same time, preserve the storied horse racing industry in the northern part of the state.
On July 21st, New Jersey Governor Chris Christie released a plan to resurrect an industry that has come under fire in part due to competition in neighboring states like Delaware and Pennsylvania. A Philadelphia Inquirer story published on Saturday morning detailed Christie’s economic plans: “It calls for the creation of a state-controlled Atlantic City Tourism District, streamlining casino regulations, keeping all gaming revenue collected by the Casino Reinvestment Development Authority in Atlantic City, and better marketing of the city as a brand, among other things.”
Economists, representatives of organized labor, and other key industry leaders gathered in South Jersey on Friday. Among them was Interactive Media Entertainment and Gaming Association (iMEGA) Chairman Joe Brennan, who told Poker News Daily about the attendees’ reaction to a possible intrastate internet gambling framework: “There wasn’t one sense either way. The bigger issue was North Jersey versus South Jersey economic developments issues. The question: How do we save the horse racing industry in the North and preserve the gaming enterprises in the South?”
An intrastate internet gambling bill proposed by State Senator Raymond Lesniak has been voted out of a New Jersey Senate committee. However, it has yet to be discussed by the state’s assembly. Brennan noted that revenues from licensed intrastate gambling outfits could be used to fund purses at racetracks like Monmouth Park in Oceanport and the Meadowlands Racetrack in East Rutherford.
According to the Inquirer, New Jersey State Senator Paul Sarlo commented on Friday, “Instead of new casinos in other states, why not a new world-class casino in the shadow of New York? We could keep the revenues in New Jersey.” Also speaking on Friday were Mark Juliano, CEO of Trump Entertainment Resorts, and Melanie Brenner of the Poker Voters of America.
Lesniak’s bill will not be deemed “dead” at the end of the year like Congressman Barney Frank’s HR 2267 will be on Capitol Hill. Instead, New Jersey terms aren’t expiring in 2010, leaving the door open for future discussion of the intrastate internet gambling measure. Brennan explained, “Today’s event was made up of the political leadership of the legislature weighing in on the bill, so I’d say it has pretty good prospects.”
According to a separate Inquirer story, about 300 people made their way to Atlantic City on Friday. In addition to monitoring Lesniak’s bill, iMEGA has been heavily involved in the push to bring sports betting to New Jersey as a way to boost revenues. In the opening days of June, Lesniak’s bill was approved out of the New Jersey Senate Wagering and Tourism Committee by a 3:1 margin.
To support the bill, iMEGA commissioned a study by Econsult that revealed up to 1,900 jobs could be created by the addition of intrastate internet gambling. In addition, Lesniak’s bill could result in up to $250 million in annual gross gaming revenue and up to $55 million in annual state tax revenue. Brennan explained in a June press release, “Being an engine for real job creation and attracting investment, and the opportunity to be the global hub for a high-tech industry is a much more meaningful opportunity for legislators to consider.”
Stay tuned to Poker News Daily for the latest from New Jersey.
