Atlantic City has long been a casino mecca, attracting gamblers from New Jersey and throughout the northeast. The state legalized casinos in the city in 1977 and there are now nine casinos in Atlantic City.
Now new legislation could bring even more gambling to the state. A recent proposal would allow for slot machines to be placed at the state’s race tracks, a major shift in live gambling in the state. Another bill would make some changes to online gaming options. Here’s a look at the plans.
Inside the Proposals
In the state senate, Concurrent Resolution 14 would update existing law to allow for race tracks to offer slot machines, mimicking the “racino” model found in several other states.
The proposal also outlines a revenue-sharing model and where those funds would be used. The state would use 60% of its revenue share toward retirement systems for public employees. Another 30% would go to Atlantic City casino operators, perhaps to make up for any gaming cannibalization.
Another 7% of state revenue would be used for “programs dedicated for the purposes of the recovery, stabilization, or improvement of the city of Atlantic City.” The final 3% would be used to fund programs to aid the horse racing industry in the state.
The plan would require a constitutional amendment, meaning voters would have to approve the plan if it is passed in both houses of the legislature and signed into law by Gov. Phil Murphy (D).
For more than a decade, New Jersey has been a leader in the U.S. legalized online gaming industry as well. The state assembly has now introduced a new bill that would allow “horse race tracks to be available for placing wagers at casinos in Atlantic City using Internet.” This would allow casinos and their online gaming partners to also partner with the tracks.
The addition of slot machines and potential partnerships with Atlantic City casinos could be a boon for tracks in Meadowlands, Monmouth Park, and Freehold Raceway. At one time, Atlantic City was the only place in the country offering casino gaming outside the state of Nevada.
The Garden State now faces major competition in numerous other states and New York City may even be getting a casino of its own as well. The expansion plans may be a reaction to some of these market forces and help upstate tracks by offering additional gaming options to lure in gamblers.
