News
Beck Sponsors Legislation To Create Casino At Meadowlands
By Ryan Fennell
TRENTON - State Senator Jennifer Beck (R-12) has sponsored legislation that calls on the New Jersey Sports and Exposition Authority to entertain public bids for the creation of a casino at the Meadowlands Sports Complex in East Rutherford.
The bill calls for casino operations at the Meadowlands Complex to begin no later than January 1, 2012.
According to the bill revenues derived from the casino would be deposited in a "Meadowlands Casino Fund" in the Department of the Treasury and used in a variety of areas.
During the first three years of operation, 15 percent of the revenues generated would be dedicated to infrastructure improvements in Atlantic City. Twelve percent would be used to enhance purses for winning horses at the Meadowlands Racetrack and Monmouth Park Racetrack in Oceanport.
Three percent would fund programs for breeding horses and the remainder would be used for state institutions and state aid for education.
If adopted the bill would take effect immediately but remain inoperative until approved by the voters of New Jersey on a constitutional amendment allowing for gambling at the Meadowlands Complex.
"In light of our state's fiscal crisis and also the crisis we have with our gaming industry in this state, I've called on the New Jersey Sports and Exposition Authority to seek formal public bids for putting a casino at the Meadowlands," Beck said.
According to Beck a proposal was received approximately two months ago from a former CEO of a casino in Atlantic City offering $600 million to take over the complex with the understanding that slots and other games of chance would ultimately be allowed.
"We know there is an opportunity to generate revenue," Beck said. "In light of the crisis we're in, it makes sense to at least see what's out there."
"It would have to be authorized by the citizens of the state in order to be added to the constitution as an official amendment," Beck added.
There has been pushback from casinos in Atlantic City that have argued that implementing slots and other games of chance at New Jersey racing complexes would negatively affect revenues in Atlantic City.
"My experience thus far has been that Atlantic City casinos have opposed the creation of any new gaming inside the borders of our state but have been more than willing to go just across our border," Beck said.
According to Beck, Harrah's has a casino operation at Chester Downs in Chester, Pennsylvania, 15 miles across the Pennsylvania - New Jersey border.
Beck said that Borgata bid and won to put gaming at Aqueduct in New York, 113 miles from Atlantic City.
The Meadowlands Complex is 111 miles from Atlantic City Beck said.
"How can you come to me and say you can't do it in New Jersey but go right across our borders taking jobs and revenue and say it's detrimental to your business," Beck said. "It is very hypocritical."
