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New Jersey Gambling Laws Might Change in November

Jun 18, 2015 - by Dani
Atlantic City may not be the sole gambling center in New Jersey

Atlantic City may not be the sole gambling center in New Jersey

New Jersey lawmakers are in a hurry to add a referendum to the November ballot that would permit operating more casinos in the state outside Atlantic City. On paper they have time until August 3, however, as a summer holiday is coming in legislation and the process is problematic, they have to achieve that in the following days. In the meantime the state Assembly approved a package of bills to help the declining Atlantic City and its casinos, while billionaire Carl Icahn was permitted to acquire Trump Taj Mahal Casino Resort. However he might shut down the facility eventually if he loses his battle against the casino workers’ union.

 

CBS New York: Clock Ticking On Putting NJ Casino Measure On November Ballot

 

In order to include it to the November ballot, New Jersey politicians have to push the bill that would legalize casinos in the state outside Atlantic City in the following days. According to blackjack news, the administration has time until August 3 to bring the topic in, however their time is cut short by the summer break and the process won’t be an easy one either.

There is an ongoing debate about how many casinos should be approved to operate by the gambling laws and where to put them in New Jersey. Assembly Speaker Vincent Pireto revealed he supports enabling up to three casinos, which doesn’t mean that all three will be built.

Mayor Ras Baraka and fellow local politicians want one in Newark. Baraka said, Casinos are coming to North Jersey and if Newark doesn’t get it, another city will and they will net the benefits.” Meadowlands and Jersey City reportedly might be other locations for possible gaming facilities.

 

The Sun Herald: Bills aim to help Atlantic City’s finances, casinos

 

The New Jersey state Assembly approved five laws to help the declining Atlantic City. Their eight casinos now can make payments instead of taxes for 15 years in order to let them know how much they owe precisely. An education aid had been also granted for the city, as well as improved insurance and retirement benefits for casino workers.

A couple of other bills will help Atlantic City to pay its debt and to develop further, gambling law news reported. “This bill and the entire package was introduced to stop the immediate bleeding in Atlantic City and the surrounding region,” explained Atlantic County Democrat member of the Assembly, Vincent Mazzeo.

He added, “Casino closings coupled with large refunds due to casinos by the city have created dire challenges for the city.” Four casinos in Atlantic City were closed last year and New Jersey locals might vote in November about approving casinos to be built outside America’s Favorite Playground.

 

Daily Record: NJ casino regulators approve Icahn to own Trump Taj Mahal

 

While lawmakers are working on how to save New Jersey’s gaming industry, billionaire businessman Carl Icahn was granted to purchase the Atlantic City Trump Taj Mahal Casino Resort from bankruptcy court by the Casino Control Commission. Icahn also holds another gaming facility in the city already, the Tropicana Casino and Resort.

Taj Mahal’s debts toward him are exceeding USD 290 million and he only has to trade that in exchange for getting control of the company. He also plans to invest USD 100 million according to online mobile news, though he might decide to close the casino down if he loses the battle against the number one casino workers’ union in Atlantic City.

Icahn clashed with the union after he abolished health insurance and pension plans made in last October by the casino’s parent company with the permission of a bankruptcy judge. However if the final decision goes against him, forcing him to restore the benefits, he might just shut Taj Mahal down for good.

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