This year’s referendum likely isn’t going to pass, but the issue likely will come up again: Is north New Jersey a suitable place for casino expansion?
Experts discussed the pros and cons during a G2E media lunch Wednesday, with former casino executive Steve Norton praising the large population available and UNLV Center for Gaming Research Director David G. Schwartz saying more expansion will just cannibalize any advantages.
Moderator Roger Gros, publisher of Global Gaming Business, set the scene by stating that New Jersey’s Atlantic City market has been “decimated” by competition, especially in Pennsylvania.
“Then to have your own state come in and say they’re expanding, I don’t think that’s really fair,” he said. He noted that polling has been against the referendum and the two potential owners aren’t advertising much in favor of it.
“They don’t say where the casinos are, what the tax rate will be or where the money is going to be applied,” Gros added.
Norton, though, said he supports the idea “especially when I look at demographics around the area.” Nearby population is vital, he notes, to attract mid-week gamblers.
“When I reposition the population, based on nearness to sites, I come up with North Jersey with 6 million support, and Aqueduct, which is doing $800 million in slot win right now, about 5.4 million,” he said. “The population is there.”
Schwartz countered with: “Let’s say they do get the casinos in North Jersey. How long until they get casinos in Manhattan?”
Gros also noted that for the statewide vote to pass, Atlantic City interests would need to be placated.
