A review of casino and gambling regulations for Atlantic City has been recommended by the Special Counsel to the governor of New Jersey State, Phil Murphy. In a bid to ensure that their is not a collapse on the industry that underpins the city, Special Counsel Jim Johnson has asked for an examination of the casino casino and gaming regulations.
Speaking to the Senate State Government, Wagering, Tourism and Historic Preservation Committee, Johnson has pushed for a “review of existing casino regulations, specifically as they relate to the number of licenses issued and overall market capacity, may be needed to ensure the long-term stability of the industry.”
During the period between 2014 and 2016, Atlantic City suffered setbacks that saw five casino properties close their doors. Thus resulting in over 8000 job losses, with the added knock on affect of a substantial increase in property foreclosures as a result.
Johnson’s move is obviously to ensure the City does not experience a similar scenario in the years ahead, especially as there is real competition on the doorstep with the likes of Pennsylvania and Delaware.
Currently Atlantic City boasts nine operational land based casinos and hotel properties.
