New Jersey Governor Vetoes Greater Part of Atlantic City Rescue Arrange

New Jersey Governor Vetoes Greater Part of Atlantic City Rescue Arrange

New Jersey Gov. Chris Christie vetoed on Monday a group of proposed measures directed at stabilizing Atlantic City’s fighting casino industry, saying that those would not bring ‘economic revitalization and stability that is fiscal to the city.

Rather than signing the package of bills he had formerly been given, Gov. Christie proposed their version that is own of group of measures that will give the state greater control over Atlantic City and its future.

Apparently, Senate President Stephen Sweeney was highly critical for the veto initially, but issued a statement that is joint the Governor down the road Monday, saying that the matter requires all interested parties to take a seat together and discuss the future of Atlantic City, known to be the only real invest nj where casino gambling is legal.

This past year, the town saw four of its twelve gambling venues close doors amidst a casino revenue downturn that is general. With eight operating casinos, Atlantic City and state officials are well-aware that ‘a comprehensive, forward-looking plan is necessary’ to ensure that the city’s gambling industry to be stabilized and revitalized.

A centerpiece in the PILOT that is so-called program a bill that could require all eight casinos to annually spend the total amount of $150 million to the town as opposed to home fees for a period of two years. The gambling venues would pay $120 also million for the next thirteen years. Read more