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Atlantic City revitalization amended, but no tourism district boundaries

Posted on January 10th, 2011

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Governor Chris Christie has finally signed the Senate Bill 1866, popularly known as S-1866. It is the bill that iwould give Atlantic City the much needed economic boost for it to get back on its feet. “This bill will provide a boost to the engines of Atlantic City and the regional economy, bringing badly needed jobs to the area and signaling the re-emergence of world-class entertainment. While this is an important step in meeting our commitment to revitalize Atlantic City as a premier destination resort, we have more work to do in laying the foundation for growth in this critical area of our economy.” says a smiling Governor Christie. The bill is specially designed to revitalize the casino industry, which is, needless to say, the backbone of Atlantic City. “I look forward to continuing to work with our partners in the legislature and Atlantic City to implement a comprehensive plan to bring the job creation, capital investment, and regulatory reform needed to renew Atlantic City and strengthen our economy.” Governor Christie adds.

The bill would now allow two boutique casinos to be built. Although only one would stay that way, because the bill stipulates that the second boutique casino should grow from a 200 room casino it originally has started with, into a 500 room casino. Current law in AC requires casinos to have 500 hotel rooms, bigger ones even have 2,000. Atlantic City, has fallen hard along with rest of the world due to the economic turmoil, and has just recently seen revenue boost during the New Year’s Eve celebrations. Deputy Assembly Speaker John Burzichelli, (D., Gloucester), who was the prime sponsor of the bill, said “We’re getting close.” Major casino operators have already expressed their interest in obtaining the 200 room boutique license. Hard Rock Hotels and Casinos, which operates a number of casinos in the United States, have already shown interest in building such a casino in the boardwalk.

Late last year, Governor Christie has mad it clear in a statement that we wouldn’t approve of building small scale casinos if the state’s whole rejuvenation package wont pull through. He added that the casinos are just part of of a bigger scheme to help AC. “I’m encouraged by what we have heard on the interest Hard Rock has in coming to Atlantic City.” Christie said. The boutique casino bill is expected to get the wheels in the second biggest gambling market in the country, turning once again, as it would bring in new investors, products and destinations that would hopefully make the country interested in AC again. Also, the smaller casinos, will make revenues faster for investors, as it has a lower admission bar. The bigger the casino goes, the bigger the costs, and so smaller casinos, would normally just cost investors only a couple a hundred millions, but in return, the smaller casinos would be taxed at a higher rate.The casinos also have to be new, Christie said they would not allow old or existing buildings to be converted or renovated into a casino hotel.

Other goals of Governor Christie’s rejuvenation package is to establish a tourism district which would cover the marina district and the boardwalk. The changes would be overseen by Department of Community Affairs together with the government of Atlantic City. Another part is to make the laws a little bit more lenient for casinos. Existing casino regulations would be amended and made more gambling friendly. Atlantic Mayor Lorenzo Langford along with the City Council, have threatened to take the matter of tourism zone establishment. They fear that it would just create a city within a city scenario which would only benefit that specific zone and neglect other areas in Atlantic City that are much in need of help. The bill also has overlooked one major component in establishing the tourist friendly zone, they forgot to set the geographical boundaries for it. “Where’s the map? We were promised clear, delineated borders of the district today.” expressed Assemblyman John Amadeo, R-Atlantic.

Burzichelli, has said that he and his fellow Democrats have been working on the boundaries in the wording of the bill, but later blamed the opposition from the Atlantic City residents, “There has been some thought that leaving the borders to be decided later allows for input of local stakeholders, because that could be done after public hearings,” he said.