Steve Norton: Unfortunately, both New Jersey and Atlantic City lose from the expected defeat of the North Jersey referendum. A North Jersey casino would bring back a lot of New Jersey play, from the casinos in Eastern Pennsylvania and the slots at Yonkers and Aqueduct. A tax rate similar to PA’s would provide an estimated $200 million a year for seniors and disabled programs (which have lost $1.6 billion since PA approved slots in 2006).
Several legislators have indicated that another $200 million would go to Atlantic City programs. And this referendum would probably have saved racing at Monmouth’s race track.
Unfortunately, AC leadership misunderstood where the real negative impacts would be felt and how much a North Jersey casino would grow the Northeast market….especially from Manhattan’s visitors, staying at the Islands 98,000 hotel rooms; probably 20 million, mid-week, guest nights from visiting businessmen and convention attendees, and another 15 million tourist nights, on weekends.
Even at a 3% penetration rate, that would be over 1 million non-residents, visiting a North Jersey casino…. like the Meadowlands, just 15 minutes from midtown by car, bus, limo or train.
Steve Norton · Chairman/CEO at Norton Management LLC
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