Meadowlands Racetrack Is Confident That Voters In New Jersey Will Accept A New North Jersey Casino
According to a recent news article, the Meadowlands Racetrack owner thinks there would be sufficient support for the creation of a casino in North Jersey.
The owners of the AC casinos have long been concerned about competition from New York over the bridge, but now they are also concerned that, should voters approve of one, a casino in the state’s north may enter the market.
The Associated Press reports that gambling entrepreneurs aiming to construct a casino resort in the northern area of New Jersey, known as the Meadowlands, may pursue one of the three available casino licenses in the state.
The Profitability of the Casinos in Atlantic City has Declined Recently
This potential looms as New Jersey’s internet casinos keep expanding; according to some projections, online gaming income may eventually overtake the long-standing Atlantic City casinos’ retail sales.
Three new casinos, all in or close to New York City, will open in neighboring New York sometime in 2025. These locations, some of which are supported by well-known industry brands, may reduce Atlantic City’s tourism and revenue.
New Jersey’s casino owners, legislators, and civic leaders are paying attention as the first real challenge to Atlantic City’s former monopoly on gambling on the northeast coast seems to be emerging. Based on tax receipts from the most recent fiscal year, the sector likewise confronts economic difficulties.
Seven of the nine casinos in New Jersey have not been able to regain the income levels they had before the COVID-19 outbreak, according to statistics from the New Jersey Casino Control Commission. Between 2014 and 2016, five casinos in Atlantic City shut down.
