Deal Between State Lawmakers Paves Way For Gaming In North Jersey
ATLANTIC CITY, NJ. (CBS) -- Atlantic City no longer would be the only casino destination in New Jersey, under an agreement announced Monday between the state senate and assembly. It's a dramatic push to expand gambling to the northern part of the state, though lawmakers and voters still need to weigh in.
The bill would allow two casinos in North Jersey with license-winners required to invest at least a billion dollars in each.
"We want real investment in the state of New Jersey," says state senate president Steve Sweeney. "We don't want slots in a box."
Sweeney says the compromise with his fellow Democrat, Assembly speaker Vincent Prieto, compensates Atlantic City for the losses it could suffer from competition, and helps relax AC's reliance on gambling dollars. Some estimates put the city's take under this bill at $200 million a year.
"Get funding to recreate Atlantic City and to create a city that's an entertainment destination," he says, "but to go beyond that and to try and start bringing businesses there that people can live there year-round and work there year-round."
The casino licenses would first be up for grabs by companies already operating in Atlantic City, though they can partner with outside minority stakeholders.
If passed by the legislature, voters would get the final say in a November ballot question.