July 21, 2010

AMODEO AND POLISTINA STATEMENT ON ADVISORY COMMISSION REPORT

Assemblymen John Amodeo and Vince Polistina issued the following statement on the report by Governor Chris Christie's New Jersey Gaming, Sports and Entertainment Advisory Commission.

"The commission's report reasserts and properly designates casino gaming in Atlantic City as the preeminent entertainment venue for the State and chief revenue producer for programs benefitting seniors and the disabled. The commissioner has put forward bold recommendations, some of which we have long advocated, and are in our 10 Point Plan to Revitalize the Atlantic City Region.

"The gaming market is much different now than it was 30 years ago. Yet, Atlantic City is still well-positioned as a major destination resort that offers many entertainment options for conventioneers and visitors. Yes, convenience gambling in neighboring states has eaten into Atlantic City's market share and the world economic downturn has impacted revenues. But the commission recognizes that new challenges require new approaches.

"First, the state has to protect the significant investment it has already made in Atlantic City, so, as we have said before, CRDA money needs to stay in Atlantic City to properly develop and market the resort. Second, we are extremely pleased the commission specifically rejected any expansion of gambling outside of Atlantic City, including VLTs. Third, the recommendation to streamline the gaming regulatory structure is long overdue and very welcomed. Fourth, the recommendations signal to existing and potential investors, employees, and local vendors that there is a firm commitment by the State of New Jersey to insure success. In sum, the commission's report is about unshackling the resort so it can reach its full potential.

"Looking ahead, we know we have some work to do to implement these ideas, but it is good to have a governor who recognizes the importance of Atlantic City gaming to the entire state and who is willing to take bold action."