ATLANTIC CITY-Gov. Chris Christie unveiled the first specific details of how Atlantic City's casino and tourism district may come under state control this morning. Standing at the New Meadowlands Stadium, on the 50-yard line, Christie held up the finished report by his advisory commission on gaming, sports and entertainment, which contains recommendations on making the three industries solvent. Later, in Atlantic City, Gov. Christie, flanked by report commission chairman Jon F. Hanson outside Boardwalk Hall, said it's important for Atlantic City's stakeholders to move forward--instead of "looking back or assigning blame."
His historic announcement aims to strip away decades of regulation surrounding the casinos, hoping to copy the gambling rules in Nevada. Also, Christie hopes to prioritize using casino tax revenue to fund Atlantic City's blighted areas.
Atlantic City and state officials have naturally focused most on the governor's plan to create a state-run portion of Atlantic City, in a plan already described as a city within a city. According to published reports, Christie said he could no longer watch the teetering of Atlantic City's institutions. He added that he gave fair warning to Atlantic City's government to fix problems pointed out in a recent state audit or face state takeover, and said that he wanted to see the state run a clean and safe tourism district there within a year.
Christie said he doesn't expect the proposed changes to change the tax structure for Atlantic City's casinos, up or down. At this point, casino companies would not save any new taxation, but he said that the Atlantic City Tourism District would operate in a private-public partnership and said that casino companies and future investors would be expected to provide significant funds for the partnership. This means that the state will operate services within the district, but casinos would also help fund those services.
During his speech, Christie stressed the need to make Atlantic City clean and safe. Now that Atlantic City faces competition from neighboring states, which are expanding gaming, Christie said, "We have to create a new wave."
But not everyone is on board. State Senate President Steve Sweeney (D-Gloucester, Cumberland, Salem), said in a statement that Christie's plan failed to offer proposals that could actually grow the industry, attract new investment and restore the state's reputation as the East Coast's preeminent gaming destination. "Anyone who walks the Atlantic City Boardwalk for five minutes would come to the same conclusions that it took this commission six months of closed-door meetings to reach," he continued. "Improving New Jersey's gaming and entertainment industry means more than just cleaning the streets and slapping on some paint. It means bringing new products into the market that will attract visitors and beat back the steady stream of new competitors. It means creating jobs and welcoming businesses. This report only goes half way." As state Senate president, Sen. Sweeney's support of the measure is needed to get it through the Legislature.
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