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New Jersey Governor Vetoes Greater Section of Atlantic City Save Plan

Wednesday, January 15th, 2020

New Jersey Governor Vetoes Greater Section of Atlantic City Save Plan

New Jersey Gov. Chris Christie vetoed on Monday a set of proposed measures aimed at stabilizing Atlantic City’s struggling casino industry, stating that those will never bring ‘economic revitalization and financial security’ to the town.

Instead of signing the package of bills he had previously been given, Gov. Christie proposed their very own variation associated with the set of measures that would give the state greater control of Atlantic City and its own future.

Apparently, Senate President Stephen Sweeney ended up being extremely critical of the veto at first, but issued a joint declaration with the Governor afterwards Monday, stating that the situation requires all interested parties to sit back together and talk about the future of Atlantic City, regarded as the only real place in nj-new jersey where casino gambling is legal.

This past year, the town saw four of its twelve gambling venues close doors amidst a casino revenue downturn that is general. With eight running casinos, Atlantic City and state officials are well-aware that ‘a comprehensive, forward-looking plan is required’ in order for the city’s gambling industry become stabilized and revitalized.

A centerpiece in the PILOT that is so-called program a bill that could need all eight casinos to annually pay the quantity of $150 million to the city in place of home fees for the period of 2 yrs. The gambling venues would pay $120 also million for the following thirteen years. (more…)

New Jersey Governor Vetoes Greater Element of Atlantic City Save Arrange

Wednesday, January 15th, 2020

New Jersey Governor Vetoes Greater Element of Atlantic City Save Arrange

New Jersey Gov. Chris Christie vetoed on Monday a group of proposed measures directed at stabilizing Atlantic City’s fighting casino industry, stating that those would not bring ‘economic revitalization and stability that is fiscal to the city.

Instead of signing the package of bills he’d previously been presented with, Gov. Christie proposed their own variation of the pair of measures that will give the state greater control of Atlantic City and its particular future.

Apparently, Senate President Stephen Sweeney had been highly critical associated with the veto initially, but issued a joint declaration with the Governor later on Monday, saying that the problem requires all interested events to sit down together and talk about the future of Atlantic City, considered to be truly the only place in nj-new jersey where casino gambling is appropriate.

This past year, the city saw four of its twelve gambling venues close doors amidst a basic casino revenue downturn. With eight running casinos, Atlantic City and state officials are well-aware that ‘a comprehensive, forward-looking plan is needed’ to allow the city’s gambling industry become stabilized and revitalized.

A centerpiece in the so-called PILOT program ended up being a bill that could require all eight casinos to annually spend the total amount of $150 million to the city rather than home taxes for a amount of couple of years. The gambling venues would pay $120 also million for the next thirteen years. (more…)