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Plans for New Jersey Gambling Unveiled

Written by:
Associated Press
Published on:
Aug/19/2014
Plans for New Jersey Gambling Unveiled

(Associated Press) - Developments about the future of gambling in New Jersey came out of Atlantic City, Trenton and the Meadowlands on Tuesday.

— MEADOWLANDS CASINO ... AND MONORAIL

Business leaders laid out plans to transform the Meadowlands into a multi-venue entertainment district, with casinos, hotels, a convention center and even a monorail. Jim Kirkos, head of the Meadowlands Regional Chamber of Commerce, said the goal isn't to build a new Atlantic City. He and others say the upside is huge, given the millions of people within a short drive.

— RACE TRACK SLOTS

Republican state Sen. Joe Pennacchio wants to allow slot machines at the state's four horse racing tracks. His proposal would have a consortium of casinos run the new machines. Profits would be divided among that group, state government and a fund to bring infrastructure and entertainment enhancements to Atlantic City. Pennacchio wants the state's 50 percent share of profits to help fund pensions for public workers. The constitutional amendment would require voter approval if it's advanced by lawmakers.

— SHOWBOAT SHUTDOWN

New Jersey's Division of Gaming Enforcement issued its final closing order for the Showboat on Monday night; the casino will shut down at 4 p.m. on Aug. 31. The order granted a shutdown petition the Showboat filed on Aug. 1 and seemed to indicate its owner, Caesars Entertainment, has little intention of considering selling it, despite public statements to the contrary.

—MORE BAD NEWS FOR REVEL

Adding insult to the $1 million a week its lawyer says it's losing, a bag containing nearly $21,000 in cash fell from the roof of an armored truck that had just picked it up from Revel Casino Hotel this month. Surveillance video showed the bag holding the cash on the rear driver's side roof as the truck left Revel and was still there after pulling away from nearby Resort's Atlantic City. That's the last it was seen.

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