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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. It is the same thing as any other con – from Bernie Madoff to Charles Ponzi – they say it convincingly and we fall for it, only to pay a heavy price later. 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....

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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. 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. 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....

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One of the adverts begins with a nightmarish fog of images and music with a voice-over telling viewers about the loss of 3,000 jobs along with the closure of Taj Mahal.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.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....

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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. 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. 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....

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The MLCVB information campaign goes on to state that, “The truth is that despite the claims in their evil commercial, the introduction of this Referendum does not add to crime, it does not allow casinos to be built in any location, it will not increase property taxes and it has nothing to do with the performance of our schools,” and concludes, “The problem is that we in New Jersey are so discouraged by our own government that we are willing to bgrand rush casino home merlelieve almost anything no matter how ridiculous. “North Jersey Casino supporters; this tells us it’s not over.estion now, and it is no wonder as they were all done by South Jersey interests,” said Ron Simoncini, Executive Director for the North Jersey Gaming Advocates....

 

 

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