5 Atlantic City casinos will shut down if North Jersey gambling comes through
In the referendum, the question of North Jersey is taken into account. With the new companies on the market, the position of three to five currently operating in the state Atlantic casinos will have to close, as the CEO of Resorts Casino Hotel informed other casino professionals on Thursday, during the panel discussion at East Coast Gaming Congress, when exchanging views on the North Jersey gambling issue.
He also warned, that the closing of the casinos can happen sooner then we thought, once the new casinos appear in the neighborhood. The statements are not drawn from the air; the Resorts have completed a detailed economic-impact study, which they wish to share in a week time. According to the collected data, the prognosis includes the crisis which could influence the mainland, apart from Atlantic City.
Mark Giannantonio assures, that “Our findings are quite clear. Three to five casinos will close. The fallout of those three to five casinos will be, potentially, 23,000 job losses,”.
“Foreclosures will double, unemployment will double. I can go on with many, many more metrics.”
“Somers Point, Galloway, Egg Harbor Township, Linwood,” the head of Atlantic City’s first casino ticked off. “Those communities will suffer immensely.”
Currently, the constitution of the state limits the number of casinos available in the state to Atlantic City. In November, the voters will have the chance to make some changes to this law and put the appearing of the two North Jersey casinos into discussion.
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