A controversial report from the committee on gaming, sports and entertainment has been presented to New Jersey’s Governor who plans to publicly reveal just how the state will revive the struggling gambling industry.
With the states gaming revenue shrinking since 2007 amid out of state competition that has just gotten stronger, Governor Chris Christie is expected to announce a complete overhaul tomorrow.
According to an unnamed source close to the Governor, Christie will propose to introduce legislation that will strip Atlantic City’s authority over the casino industry and transfer control to a state appointed board that would include county officials and industry leaders.
Under the Governors plan Atlantic City will get a complete “block by block” overhaul to revive the struggling district.
Horse racing at the Meadowlands will also be at stake; the governor will propose leasing the track to the Standardbred Breeders and Owners Association for the low rate of $1 year or eliminate the sport all together possibly redeveloping the sports complex for other entertainment sources.
Christie will also propose the possibility of providing state financial assistance to the stalled Zanadu project.
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