The William Hill Sports Race & Sports Book at Monmouth Park in Oceanport, New Jersey. Photo By Bill Denver/EQUI-PHOTO.
Dennis Drazin and his partners at Monmouth Park were ready to accept sports bets on Memorial Day weekend. They wisely didn’t after Senate President Steve Sweeney announced he was inserting a provision in the state legislation regulating sports betting that would prohibit anyone who took bets before the regulations were passed from getting a license.
Sweeney was looking out for the Atlantic City Casinos who weren’t ready to take bets yet. In the meantime, Delaware passed their spots betting regulations and bets will start being taken there today. New Jersey loses out again.
What was considered a two or three week delay while legislation was passed now threatens to deprive New Jersey’s racetracks and casinos of sports betting revenue, and the related jobs, for a third or more of their summer season. According to a report on Politico, Governor Murphy is prepared to hold the sports betting bill as a chip to play as he negotiates his first state budget with the more moderate Sweeney and Assembly Speaker Craig Coughlin.
TRENTON — A Wall Street credit rating agency suggested in a report Wednesday that Atlantic City would face significant financial shortfalls without the state taking over large swaths of the city’s local government. Moody’s Investor Services released the report a day before the state Legislature begins considering two measures aimed at helping the Jersey Shore gambling… Read the rest of this entry »
TRENTON — Avoiding possible bankruptcy and hostile state takeover of a once-glittering gambling resort town, top political leaders and the Atlantic City mayor Tuesday announced a compact to repair the city’s finances. The arrangement stops short of the kind of intervention the Democratic state Senate president was seeking and the bankruptcy Mayor Don Guardian threatened to… Read the rest of this entry »
TRENTON — For the second time in four days, a Wall Street credit rating agency has painted a dire outlook for Atlantic City. Moody’s Investors Service said in a report Monday that Gov. Chris Christie’s recent rejection of a financial aid package leaves the Jersey Shore gambling resort likely to default on debt services as early… Read the rest of this entry »
TRENTON — A Wall Street rating agency said Tuesday a plan to expand casino gambling to north Jersey would be “bad news” for Atlantic City and could cause more casinos to close in the Jersey Shore resort. The report by Moody’s Investor Services came on the same day a bill was formally introduced in the state… Read the rest of this entry »
NEW YORK — Desperate to draw visitors to Atlantic City, New Jersey officials gave United Airlines more than $100,000 in incentives to fly to the seaside resort for at least a year. Then, when United abruptly canceled the money-losing routes eight months later, the officials appointed by Gov. Chris Christie decided not to enforce a contract… Read the rest of this entry »
No single figure has been more associated with Atlantic City casinos than Donald Trump, now the Republican presidential frontrunner. WNYC took a trip down to Atlantic City to find out more about his history there, and his legacy. Our guide was Reuben Kramer, who covers the casino industry for The Press of Atlantic City. Reuben Kramer… Read the rest of this entry »
TRENTON, N.J. (AP) – A federal judge says a strip club did not have its First Amendment rights violated when its brochures were removed from New Jersey highway rest areas. P.R.B.A. Corporation, which runs the Bare Essentials club in Atlantic City sued in 2012 after an employee of HMS Host Toll Roads ordered that its brochures… Read the rest of this entry »