Nj Governor Vetoes Greater Part of Atlantic City Save Plan
Nj Gov. Chris Christie vetoed on Monday a set of proposed measures directed at stabilizing Atlantic City’s fighting casino industry, saying that those will never bring ‘economic revitalization and stability that is fiscal to your town.
Rather than signing the package of bills he’d formerly been offered, Gov. Christie proposed their own variation associated with group of measures that could provide the state greater control of Atlantic City and its own future.
Reportedly, Senate President Stephen Sweeney was very critical associated with the veto in the beginning, but issued a statement that is joint the Governor afterwards Monday, saying that the matter calls for all interested events to sit down together and talk about the future of Atlantic City, regarded as the sole place in nj-new jersey where casino gambling is legal.
This past year, the town saw four of its twelve gambling venues close doors amidst a general casino income downturn. With eight running casinos, Atlantic City and state officials are well-aware that ‘a comprehensive, forward-looking plan is needed’ in order for the city’s gambling industry become stabilized and revitalized.
A centerpiece into the so-called PILOT system had been a bill that would require all eight gambling enterprises to annually spend the total amount of $150 million towards the town in the place of home fees for the period of 2 yrs. The gambling venues would pay $120 also million for the following thirteen years. (more…)