Lawmakers in New Jersey proposed SCR130, a constitutional amendment that would permit casinos at Monmouth Park and Meadowlands. The goal of the move is to increase revenue, finance public services, and maintain competitiveness in the face of NYC’s growing casino market.
The city of Trenton, New Jersey, has submitted a proposed constitutional amendment that would permit casino gambling outside of Atlantic City.
State Senators Paul Sarlo (D-Bergen) and Vin Gopal (D-Monmouth) submitted Senate Concurrent Resolution No. 130 (SCR130) on Monday. In the counties they represent, the two Democrats are working to legalize table games and slot machines.
If the New Jersey Legislature passes SCR130 and voters support it in a statewide ballot question, the racetracks that now have sportsbooks, Monmouth Park and Meadowlands, would be able to apply for casino licenses from the state’s Casino Control Commission.
“It shall be lawful for the Legislature to authorize, by law, the specific kind, restrictions, and control of casino games to be conducted at the Meadowlands Racetrack and the Monmouth Park Racetrack and to license and tax such operations and equipment used in connection therewith,” according to SCR130.
The racetrack casinos would be taxed at the same rate as Atlantic City’s gaming facilities, but 45% of their gaming taxes would be set aside for homeowner property tax relief. Another 20% would be set aside for special education, 10% for the state pension system, 10% for cost-of-living adjustments for state employees, 10% to encourage tourism in Atlantic City, and 5% for horses.
By the end of the year, New York is likely to issue three casinos in the New York City area. Atlantic City is prepared for the effect, and SCR130 indicates that some state lawmakers are concerned about lower casino taxes.
Courtesy: https://igamingexpert.com/, https://www.igbnorthamerica.com/, https://gamingamerica.com/news/
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