The Latest: Pros and cons of north Jersey casinos debated

AP News
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Posted: May 26, 2016 10:20 AM

ATLANTIC CITY, N.J. (AP) — The Latest on the debate over expanding casinos into northern New Jersey, near New York City (all times local):

9:55 a.m.

The businessman who made Reebok a worldwide name says his proposed casino in northern New Jersey would target gamblers from New York City, not Atlantic City.

Footwear magnate Paul Fireman told a major casino conference in Atlantic City that his proposed casino, costing nearly $5 billion, would primarily capture visitors from New York City, just across the Hudson River.

Fireman says he aims to take money from New York, rather than letting New York take money from New Jersey tourists.

Fireman's is one of two announced casino proposals.

New Jersey voters will decide in November whether to authorize two new casinos, though no locations have been specified.

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9:50 a.m.

The owner of the Meadowlands Racetrack who is proposing to build a casino in East Rutherford, New Jersey, says a referendum to authorize new casinos in the state is Atlantic City's last chance to survive.

Opponents of the two proposed new casinos near New York City fear it could cause three to five of Atlantic City's casinos to shut down.

But Meadowlands Racetrack owner Jeff Gural says the proposed $200 million in revenue from north Jersey casinos that would be sent to Atlantic City is the "last chance" for struggling Atlantic City to save itself.

Panelists at a major casino conference in Atlantic City are debating the pros and cons of the proposed north Jersey casinos.

No locations have been picked, but leading contenders are in East Rutherford, where the NFL's Jets and Giants play, and in Jersey City

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9:45 a.m.

An Atlantic City casino operator says allowing two new casinos in the northern part of the state could cause up to five of Atlantic City's remaining casinos to go out of business.

Resorts president Mark Giannantonio (Gee-ann-ann-TOE'-nee-oh) predicts 23,000 jobs could be lost in Atlantic City if voters authorize the new casinos near New York City.

Panelists at a major casino conference in Atlantic City are debating the pros and cons of the proposed north Jersey casinos.

No locations have been picked, but leading contenders are in East Rutherford, where the NFL's Jets and Giants play, and in Jersey City.

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9:30 a.m.

The head of New Jersey's state Senate says it's time to start a campaign to drum up support for two new casinos in the northern part of the state, near New York City.

Steve Sweeney told the East Coast Gaming Congress and iGaming Institute that it won't be easy to get voters to approve the new casinos in a November referendum.

Gov. Chris Christie says those proposed casinos are on life support right now with the public, due to the turmoil surrounding Atlantic City and its inability to balance its books, even with eight casinos in town.

Analysts say they could be among the most successful casinos in the country. Atlantic City officials fear they could cause three to five of the surviving eight casinos to close.