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The study’s conclusion was apocalyptic and predicted either a contraction of industry EBITDA to some 5 million at best (from then current 4 million) or the closure of three to five Atlantic City casinos. Many may not be aware of other profitable casinos that closed for various reasons or the deals made by other operators and deed restrictions put in place in order to reduce competition in Atlantic City so the remaining casinos would have a better chance. One reason for that could be that a major funding source for Trenton’s Bad Bet is Resorts World Casino New York, and one of the other opponent groups, “No North Jersey Casinos” counts as its most prominent members the Southern New Jersey Chamber of Commerce and the Greater Atlantic City Chamber, whose interests obviously align with those of Atlantic City casinos....
Although previous polling may have been commissioned by out of state casino interests protecting their markets, the methodology of the latest Rutgers-Eagleton Poll should be considered viable and unbiased in the absence of any specific weighting or balancing that could sully the results. If the constitutional amendment goes down to defeat, casino advocates and their adversaries will have two years to sharpen their game plans, influence lawmakers in crafting a new law, and commission the truly comprehensive studies that New Jersey voters will likely insist upon. The study’s conclusion was apocalyptic and predicted either a contraction of industry EBITDA to some 5 million at best (from then current 4 million) or the closure of three to five Atlantic City casinos....
So far over million has been spent by both sides to earn hearts and minds at the ballot box, and if you look at the most scientific of polls (Monmouth in June and Rutgers-Eagleton in Nov. However, the study was one-sided and incomplete in that it, “did not analyze or quantify the offsetting economic impacts of casino expansion in northern New Jersey,” according to the 110-page document’s Executive Summary (PDF).New Jersey voters will go to the polls Tuesday without all of the information they need to make a completely rational decision....
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The study’s conclusion was apocalyptic and predicted either a contraction of industry EBITDA to some 5 million at best (from then current 4 million) or the closure of three to five Atlantic City casinos. Another reason those tactics may not be in play is that it is very difficult, if not impossible to find valid studies that support the view that casinos bring such blights to their communities.What the commercials don’t do is explain how or why opening two casinos in North Jersey, each with a minimum billion investment and available first to existing Atlantic City operators, would create the sort of economic hellscape the advertisements portend....
