New Jersey racetracks want casinos to fight off competition from New York
New Jersey Senator Vin Gopal has put forward a bill that would allow casino games at racetracks in Monmouth Park and the Meadowlands in North New Jersey.
The proposal would extend casino gaming from Atlantic City, which is currently the only location in the Garden State where players can play slot machines and table games. The decision would be made via a constitutional ballot question asking voters whether the state should allow a casino at the Meadowlands Racetrack in East Rutherford and the Monmouth Park Racetrack in Oceanport.
State Sen. Paul Sarlo said: “This plants a flag to send a message to New York State that if they open a casino in Manhattan, that New Jersey is ready to respond to the competition.”
Jeffrey Gural, owner of the Meadowlands Racetrack, said: “People in southern New Jersey look at Monmouth as competition because it’s not that far from Atlantic City. But the Meadowlands would really be competing with the casinos in New York, not so much the casinos in Atlantic City.”
The proposal states: “This constitutional amendment would allow the legislature to establish casino games at the Monmouth Park and the Meadowlands racetracks. Upon approval of this amendment, the legislature may pass a law prescribing the specific kind, restrictions, and control of operations of such casino games.
“The State’s share of revenues derived from casino games at these two locations would be dedicated to the following purposes: 45 per cent of such revenues would be dedicated to provide funding for reductions in property taxes; 20 per cent of such revenues would be dedicated to provide funding for extraordinary special education aid; 10 per cent of such revenues would be dedicated to provide funding for the State pension systems; 10 per cent of such revenues would be dedicated to provide funding for cost-of-living adjustments for retired State employees; 10 per cent of such revenues would be dedicated to provide funding for the support of Atlantic City tourism; and five percent of such revenues would be dedicated to provide funding for the running and harness horse racing industry in this State, as the legislature will provide by law.
“The types and number of casino games which may be conducted at these racetracks, and the taxes imposed these games, will be determined by the legislature by passing a new law.”
The proposal comes as neighbouring New York City looks to award three high-profile casino licenses, which would provide new competition for New Jersey’s racetracks.
It has already met with fierce opposition, though. Senator Vince Polistina, Assemblyman Don Guardian and Assemblywoman Claire Swift responded to a recent initiative by Senators Vin Gopal and Paul Sarlo to expand casino gaming to North Jersey.
“New Jersey voters have made their voices clear that casinos belong in Atlantic City and Atlantic City only. Now is the time to focus on strengthening the economy in the Atlantic County region as New York gaming expands,” said Senator Vince Polistina.
“Expanding casino gaming to North Jersey will do nothing to increase gaming revenues statewide and will only move them from Atlantic City elsewhere,” explained Assemblyman Don Guardian. “Our focus has been to make Atlantic City a worldwide destination for both gaming and non-gaming tourism. We need to continue to work on the infrastructure of the city to not only keep our current visitors but attract new ones.”
“The entire State of New Jersey benefits from the gaming revenues in the City of Atlantic City,” said Assemblywoman Claire Swift. “The State pulls a tremendous amount of dollars from the City and spends them on projects outside its limits. Instead of creating in-state competition, why not put some of those current dollars back in projects that will continue to bring visitors to Atlantic City from North Jersey and beyond?”
As recently as 2016, a referendum to permit casinos outside Atlantic City failed 77 per cent to 23 per cent. “I look forward to working with my colleagues and the Governor on measures to address the challenges in Atlantic City and provide a foundation for continued growth in the region,” added Senator Polistina.
