Atlantic City Want Governor Christie To Approve Financial Aid

Atlantic City once had a thriving gambling industry and its twelve casinos were continuously busy generating significant gambling revenue for the garden state. All that has changed in the last 24 months, as four out of the twelve casinos have already shutdown operations and the remaining eight casinos are finding it difficult to survive the slump in Atlantic City’s gambling market.

Competition from the neighbouring states and a slow economy has resulted in a significant drop in customers and player spending. Industry analysts believe that this trend will continue into 2016 and as a result the remaining casinos in Atlantic City have been pushing Governor Chris Christie to release financial assistance to help the struggling casinos.

There are as many as five bills outlining the financial assistance the casino industry requires from the state. Governor Christie who has been campaigning for the presidential election is yet to make a decision on any of the bills and members of his government have stated that Christie is currently in the process of reviewing these bills. Atlantic Casinos are frustrated that it is taking Christie so long to make a decision, as the casinos are in urgent need of financial aid.

Gov. Christie had high hopes for Atlantic City and once said that it was the key to turn around the fortunes of New Jersey. Christie and his government has struggled to find solutions to the gambling competition posed by neighbouring states and the slump of the online poker industry in New Jersey has put the overall gambling market in a very poor situation.

During the presidential debates, Gov. Christie received a lot of flak for the dismal state of Atlantic City’s gambling industry. Donald Trump minced no words and stated that Atlantic City was a disaster and maybe it is the governor who is to be blamed for the disaster. Gov. Christie offered no response to those remarks and looked defeated over Atlantic City.

The Casino Association of New Jersey has not been impressed with the delay by Gov. Christie and stated that if the bills are not signed in 2015, then it would cost Atlantic City close to $50 million in revenue. The association released a statement which said :

“The city would need to replace that revenue by other sources -– presumably the property taxpayers of Atlantic City. These bills are our best hope for a solution to these pressing problems and it is unfortunate they are being held hostage.”