New Jersey Governor Chris Christie is promising relief for beleaguered Atlantic City casinos in the form of regulatory reforms.
As to what exactly Governor Christie means by that is a question that is up for debate. Christie announced the prospect of regulatory relief on Thursday, after meeting with officials from MGM Resorts International and Caesars Entertainment.
The closest Governor Christie came to an actual detail was a promise to provide, “more relief,” within 30-45 days.” Of course that statement implies that he did propose some specifics to the executives he met with, but whatever was said at that meeting was not released to the public.
Governor Christie did tell the Courier-Post Online that:
We’re going to be working with them (the casinos) on additional ways we can bring Atlantic City’s regulations into the 21st century.
Over the past six years, New Jersey has been doing everything in its power to help out the beleaguered casinos of Atlantic City fight their, seemingly, never-ending slump. That reform included casino licenses that do not have to be renewed and a streamlining of the regulatory agencies that oversee Garden State gambling.
Of course the biggest factor impacting Atlantic City these days is decreased competition. With only seven casinos remaining on the Boardwalk, Atlantic City survivors are enjoying increased revenue.
Governor Christie also mentioned that both the executives he met with were interested in investing millions in their Atlantic City resorts.
Marc Frissora, president of Caesars Entertainment pointed out that his company is still bullish on AC saying:
We continue to see a lot of vibrancy. We know that the future is bright.
Governor Christie is set to make his next announcement about Atlantic City and regulatory reform some time within the next 30-45 days.