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Commissioner: Atlantic City, Sole Venue for Casino Gambling

Posted on April 8th, 2011

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The current gubernatorial administration is bucking the established trend in the state and plans to limit casino gambling exclusively to Atlantic City, this confirmed by the head of the Commission on Casinos and Racetracks. John Hanson, echoing Gov. Chris Christie’s views, explained that the state intends to rejuvenate the state’s ailing gambling industry and likewise plans to emphasize the self sufficiency of racetracks as a separate and viable establishment. This likely means that the Meadowlands, amidst its grand plan of a new casino complex, will likely have to wait for better times to be able float the idea again. Hanson’s group issued a report last July detailing what he just explained.

“About four years ago, you had 50,000 people working in the gaming industry in Atlantic City. It’s down to 33,000 people. Our conclusion was, ‘Let’s see if there’s a way that you can revitalize gaming in Atlantic City.’ The problem in the casino industry is acute. We’re dealing with it.”, the report detailed. This was the same position Hanson sternly stood to defend in a forum at Rutgers University when many advocates of slot machine addition to the Meadowlands were present to air their side. Hanson has the backing of the legislature, or at least that’s the belief. He is confident that the legislature will not approve gaming applications beyond the borders of Atlantic City. Instead, the state is focusing heavily on building up a tourism district that could complement the casino industry by attracting more patrons and wagers. Hanson also said that part of the end goal of the tourism district is to make sure that casino districts are also safe and clean.

James Simpson, the president of Hanover Shoe Farms which is home to the world’s biggest breeding facility for Standardbred horses, argues that Pennsylvania already established the model that works in rescuing a faltering racing industry. “Before slots, the thoroughbred and Standardbreds were on life support,” he said. “We all needed the slots. I really don’t see a big difference between our situation six years ago and New Jersey’s situation today.” Simpson also thinks that the idea of limiting the slots away from the racetracks does not have a sound basis. “I don’t see why there’s so much pushback to joining the casino and horse racing industries in New Jersey,” he said. “Racing and casinos can work together. You just have to look across the border, and there’s a model that’s working.” Indeed they are. Pennsylvania’s 10 casinos are in hot pursuit of Atlantic City’s coveted title as the second largest gambling market in the country, next to Las Vegas barely four years since the racino concept was approved in the Pennsylvania legislature. That measure also had a tough time narrowly garnering the required number of votes for it to go through.

“Slots passed in the Legislature by one vote at 2:30 in the morning. I think most of those legislators are happy now,” adds Simpson. Now, Atlantic City’s 11 casinos are left wondering how to stem the tide coming from fresh competition. The prospective operator for the Meadowlands project, should it go through, is the American Racing and Entertainment LLC chaired by Jeffrey Gural. Despite the harsh feedback, he hopes things could still turn for the better. He is giving the process two weeks before he walks away or clinches the deal. The American Racing and Entertainment LLC own the Vernon Downs racino in Syracuse and Tioga Downs in Nichols, New York. Gural tendered his offer in December when the announcement for the failing Meadowlands came. Soon after, Gural was feverishly working on a plan to bring the facility back into shape, including assuming the operations and continue to run the facility despite zero subsidies from the government. Prior to that, the casinos regularly paid up to $30 million to the horsemen to resist the introduction of casinos.

Explained Gural, slots play a major part in making sure the Meadowlands continues to operate. “We see an instant spike in slot revenue when the racing ends. The racing customer will come into the casino. We use the racing to market the casino. It’s been successful. Here in New Jersey we’re competing with tracks that are being subsidized by slots,” he said. There’s still no clear resolution on the issue. The Meadowlands continues to wait.