Powerball jackpot reaches $400 million

The Powerball jackpot is now worth an estimated $400 million. The prize–the cash option is worth $244.8 million–has ballooned without a jackpot winner since Nov. 4. The Saturday drawing also failed to produce a jackpot winner. The last jackpot winning ticket was sold in Tennessee for the Nov. 4 drawing. The last Powerball jackpot winning ticket… Read the rest of this entry »

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NJ sports betting ban upheld by federal judge

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FDU Poll: Most in New Jersey oppose casinos outside of Atlantic City

A majority of New Jersey residents oppose expanding legalized gambling in the State beyond the borders of Atlantic City, according to a Fairleigh Dickinson Public Mind Poll released this morning.  50 percent oppose casinos outside of AC. 42 percent favor expanding gambling venues in New Jersey.

Men favor casinos elsewhere in the State by a small margin, 48-46, while women are opposed , 53-36.  Young adults aged 18-34 are in favor of gambling venues outside of AC, 52-38.  Those aged 35-50 are opposed, 53-41 and those over 60 are opposed by a 56-36 margin.

Of the 819 respondents, those who have been to Atlantic City within the last 12 months are most likely to favor casinos elsewhere in New Jersey, by a 52-35 margin.  Those who have been to casinos elsewhere but not in AC favor new gaming halls in New Jersey by a much narrower margin, 47-45.  Those who have not been to a casino in the last 12 month are opposed to expanding gambling in NJ by 45-40.

When asked if they favored expanding to the Meadowlands or Monmouth Park in Oceanport, the Meadowlands was favored.  Respondents favored opening casinos in the Meadowlands by a 47-45 margin.  They opposed casino gambling at Monmouth Park by narrow 44-43 margin.

The margin of error of the poll is +/- 3.4%

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Atlantic City’s winning formula

Is anyone surprised that New Jersey’s efforts to revitalize Atlantic City are failing?

The news that AC’s latest hope for revival, Revel, is on the verge of bankruptcy and foreclosure is no shock.   As Trump’s multiple bankruptcies over the years demonstrated, casino lenders are the biggest losers, next to bussed in seniors lured by a free roll of quarters, in AC.

Vice has always been the key to Atlantic City’s economic viability.  For good reason.  The place is a dump.  You have to drive through a swamp to get there.   It is very inconvenient.  The lure of doing something enjoyable that is forbidden elsewhere has been the key to Atlantic City’s economy since the days of Nucky Thompson.

Now that legalized gambling is available in more convenient places and liquor is legal most everywhere, Atlantic City is doomed, unless it comes up with a new vice to make available.

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WHAT IF WE ASKED A PUBLIC QUESTION AND NOBODY CARED.

We recieved such a great response fron James Hogan’s last piece we are bringing you some more of his insights.

There is an election in less then one week, and no one seems to care.Voter turnout is expected to be low, Governor Christie has been rather silent in endorsing and pushing Republican candidates despite his popularity and successes and as sample ballots began to arrive, the few folks who didn’t just toss them in the trash have been trying to understand the public question.

The question as it appears on the ballot reads as follows:

Shall the amendment to Article IV, Section VII, paragraph 2 of the Constitution of the State of New Jersey, agreed to by the Legislature, providing that it shall be lawful for the Legislature to authorize by law wagering at casinos or gambling houses in Atlantic City and at current or former running and harness horse racetracks on the results of professional, certain college, or amateur sport or athletic events, be approved?

The interpretive statement reads:

This constitutional amendment would authorize the Legislature to pass laws allowing sports wagering at Atlantic City casinos and at racetracks. Wagers could be placed on professional, certain college, or amateur sport or athletic events. However, wagers could not be placed on college games that take place in New Jersey or in which a New Jersey college team participates regardless of where the game takes place. A wager could be placed at a casino or racetrack either in-person or from any other location through an account wagering system that uses telephone, Internet or other means.

For once, the question itself seems rather simple and straight forward, I suspect most people who take the time to read it will answer Yes but I could be surprised..

Unfortunately, the real issues here don’t appear to be so simple, and a Yes, or a No, may or may not mean much. Having tried to do some research through my short contact list, it seemed impossible to get someone to answer what seemed like a few simple questions.  None of my contacts seemed to have the time to provide what may have been political science 101 crash course for me, one noted “it’s just not that simple”, another said “who cares about the public question?” and one told me “just vote Yes, but it won’t matter”. Two different sources provided me with a link to this wiki page (http://ballotpedia.org/wiki/index.php/New_Jersey_Sports_Betting_Amendment,_Public_Question_1_(2011)) that seemed to explain the issue a little better.

Based on the information I was able to get from my short list of contacts, and the wiki page, it seems to come down to:

Yes — NJ gets to spend time and money fighting a court battle, likely all of the way up to the Supreme Court, and then if and when a federal restriction is lifted, then the state Legislature can write a bill and change the state law. Essentially a Yes next Tuesday means maybe some year much later in my expected lifetime, we’ll have a debate and vote in Trenton to legalize sports betting.

No — NJ continues on like all but 4 other states where sports betting is legal. Maybe or maybe not related: Nevada, one of the states where sports betting is legal, has the nation’s highest unemployment level at 13.4%. The other states, Montana, Oregon and Delaware have unemployment rates of 7.7%, 9.6% and 8.1% respectively compared to NJ’s 9.2% so I doubt that sports betting solves the slow economy problem and I suspect No votes would be more of a protest vote against a less than important issue for most struggling taxpayers.

Also worth noting, a Yes or a No for sports betting has nothing at all to do with the issue of VLTs at Monmouth Park or the Meadowlands, it would just make betting on sports games legal, after that federal law changes, if it changes. It seems a bit disingenuous for the state Legislature to be giving the appearance of working so hard to bring gambling tourism money into the state through sports betting when it can’t even get legislation that would bring  gambling tourism money into the state through VLTs and slots at our own racetracks on the floor and up for a vote. With that, it’s easy for me to understand why voters are angry or apathetic, and planning to stay home.

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Oceanport Task Force Contiunes Fight For Horse Racing

VLT’s, slot machines, or an all out gaming casino in the Meadowlands is the only way to protect horse racing in New Jersey

Oceanport Councilman Joe Irace delivered the following report regarding the borough’s Monmouth Park Task Force at this evenings council meeting:

On Monday January 10th our Monmouth Park Task Force met to discuss the future of Monmouth Park as it pertains to the recent Hanson Report Part 2.  Our Task Force meeting was attended by a varied cross section of members including two former New Jersey State Senators, a horse veterinarian, thoroughbred owners, and concerned Oceanport residents.  The meeting was very specific and our participants quite vocal and knowledgeable.  Our Task Force once again maintained the position that VLT’s, slot machines, or an all out gaming casino in the Meadowlands is the only way to protect horse racing in New Jersey.  All the surrounding states of New York, Pennsylvania, Delaware and Maryland now have some form of gaming at their race tracks.  This uneven playing field enables our competitors to lure New Jersey horseman out of State with larger purses and better quality horse racing.

Knowing the current legislative posture in New Jersey and knowing that gaming is not coming to the Meadowlands this year, our Task Force was once again proactive in seeking solutions to get us through 2011 and beyond.  Among the suggestions were: working with Monmouth Park to seek alternative revenue streams such as a boardwalk type facility in the picnic area, upscale restaurants, concerts, retail boutiques and perhaps even a hotel.  Anything to make Monmouth Park more desirable as an asset to the State, not just for horse racing, but as a destination place in the heart of the Jersey Shore.

The Task Force continues to ask for the actual financials of Monmouth Park, not of the full New Jersey Sports & Exposition Authority, of which Monmouth Park belongs.  Are the numbers the State uses correct when they say the facility loses $6 million?  We do not think so and would like to see the empirical evidence.

We continue to be concerned with the possible veto of a bipartisan bill approved in the New Jersey Senate and Assembly that would enable horse racing to not only survive, but to thrive.  It is important to remember that horse racing contributes 7,000 jobs, $110 million in federal, state and local taxes, and 57,000 acres of working agricultural landscape and open space to New Jersey.

Our Governing Body and our Task Force will continue to lobby our elected officials on behalf of Monmouth Park.  It is important not only to Oceanport and Monmouth County, but to the state of New Jersey as well.

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