New jersey voters will decide Tuesday whether to allow casinos outside Atlantic City now in the state’s 38 year history of legalized gambling.
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is to build two new casinos in the northern system of the state, Near new york, because of www.ondishoes.com
recapture gambling revenue lost to casinos in Pennsylvania and New York; Prop up struggling Atlantic City and the horse racing industry; And fund programs for seniors and the disabled.
Even fans, also, Concede fit unlikely to pass. Opponents say adding new casinos to an already oversaturated market might lead to at least three of Atlantic City’s remaining seven casinos to close.
what’s more, The projected aspects of the new casinos are not backed up by anything concrete because key questions, such as rate at which the casinos would be taxed and how the resulting revenue would be divvied up, Remain un-answered.
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The referendum does not specify when the casinos would go, Only the way they be in separate counties at least 72 miles from Atlantic City. The most frequently mentioned locations are the Meadowlands sports complex in East Rutherford, Where racetrack operator Jeff Gural and Hard Rock intercontinental have proposed a casino, as well as in jersey City, purchasers Hudson River from Manhattan, Where footwear magnate Paul Fireman has proposed a casino costing just like $4 billion or $5 billion.
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regions of the state remain eligible, nevertheless. Industry and Wall Street analysts have told The Associated Press jerseys from China
the new casinos could be among the most successful in a rural area, As long as new york doesn’t allow a casino nearby shortly afterward.
Gural approximations a Meadowlands casino ouledjerrar.com
would take in $800 million to $900 million a year from gamblers, Ranking it one of the most successful in the nation. Some analysts think a Meadowlands casino could exceed $1 billion in annual revenue, At least before it has a nearby contender in northern New jersey. Gural has told her i would pay 55 per cent, But state Senate President Steve Sweeney has said that since the casinos would need to cost at least $1 billion apiece, The tax rate would have to be much lower than that in order to keep them from failing.
The tax rate directly determines the amount of money will be sent to help compensate Atlantic City for the inevitable loss of business to new in state competition. Money from taxes on the new casinos also would go to tax relief and programs for our seniors and the disabled; To the state’s horse racing operate; And to cities and counties that host the casinos.
Without reliable revenue estimates and a firm tax rate, No one can begin to accurately estimate how much any sexual payments might be. The tens of huge amounts of money lobbying groups have spent for and against the proposal set a record, And just spending could top $40 million by Election Day.
If the have a measurement passes, Lawmakers had to pass “Enabling procedures” Spelling out data it declined to decide before the referendum, Including the location of the casinos, The tax charge, And how the revenue would be specific.