New York is finally on its way to adding three new casinos that will potentially encroach on New Jersey territory and pull away tax revenue from the Garden State
New York will be introducing a number of new casinos across the Empire State, with three planned for NYC, two in Queens, and one in the Bronx.
What this means is that there will be a lot more gaming floors up north from New Jersey, which is something the Garden State cannot leave unanswered, seeing how it relies on its casino industry to generate a substantial chunk of revenue.
Atlantic City Calmly Indifferent to Events – A Mistake, Says Local Lawmaker
To this end, Sen. Joe Pennacchio is pitching a new plan to introduce a new casino. The plan is simple enough – add slot machines to the Meadowlands Racetrack and stem any potential outflow of New Jersey residents going up north to play.
Sen. Pennacchio is worried that inaction would prove too costly: “New Jersey continues to sit on its hands. Putting a racino in the Meadowlands would generate tons of cash for strapped New Jersey, and I think the taxpayers deserve that to be looked at.”…