Nj-new jersey Governor Vetoes Greater Element of Atlantic City Rescue Plan

Nj Gov. Chris Christie vetoed on Monday a group of proposed measures aimed at stabilizing Atlantic City’s fighting casino industry, stating that those will never bring ‘economic revitalization and financial stability’ to your city.

In the place of signing the package of bills he’d previously been offered, Gov. Christie proposed his version that is own of pair of measures that will supply the state greater control of Atlantic City and its own future.

Apparently, Senate President Stephen Sweeney ended up being extremely critical associated with the veto at first, but issued a joint declaration with the Governor later on Monday, stating that the situation calls for all interested parties to take a seat together and talk about the future of Atlantic City, considered to be the sole place in New Jersey 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 working 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 so-called PILOT program had been a bill that will require all eight casinos to annually pay the amount of $150 million to the town as opposed to home fees for a amount of two years. The gambling venues would also pay $120 million for the next thirteen years. Read more →