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New Jersey Governor Vetoes Greater Part of Atlantic City Save Arrange

New Jersey Governor Vetoes Greater Part of Atlantic City Save Arrange

Nj-new jersey Gov. Chris Christie vetoed on Monday a set of proposed measures directed at stabilizing Atlantic City’s struggling casino industry, stating that those would not bring ‘economic revitalization and fiscal security’ to your town.

Instead of signing the package of bills he’d previously been offered, Gov. Christie proposed his version that is own of set of measures that could supply the state greater control over Atlantic City and its future.

Apparently, Senate President Stephen Sweeney had been extremely critical associated with the veto initially, but issued a joint declaration with the Governor afterwards Monday, stating that the matter requires all interested parties to sit down together and talk about the future of Atlantic City, regarded as the sole place in nj-new jersey where casino gambling is appropriate.

This past year, the city saw four of its twelve gambling venues close doors amidst a general casino income downturn. With eight working casinos, Atlantic City and state officials are well-aware that ‘a comprehensive, forward-looking plan is needed’ to ensure that the city’s gambling industry to be stabilized and revitalized.

A centerpiece into the PILOT that is so-called program a bill that would need all eight casinos to annually spend the total amount of $150 million towards the town rather than property fees for the amount of couple of years. The gambling venues would also pay $120 million for the following thirteen years. (more…)