Nj-new jersey Gov. Chris Christie vetoed on Monday a set of proposed measures aimed at stabilizing Atlantic City's fighting casino industry, saying that those would not bring 'economic revitalization and financial stability' to the town.
In the place of signing the package of bills he previously previously been given, Gov. Christie proposed his version that is own of group of measures that would provide the state greater control over Atlantic City as well as its future.
Reportedly, Senate President Stephen Sweeney had been extremely critical of this veto initially, but issued a joint declaration with the Governor afterwards Monday, stating that the problem calls for all interested parties to take a seat together and talk about the future of Atlantic City, known to be the only place in nj where casino gambling is legal.
A year ago, the town saw four of its twelve gambling venues close doors amidst a casino revenue downturn that is general. With eight operating casinos, Atlantic City and state officials are well-aware that 'a comprehensive, forward-looking plan is required' to ensure that the town's gambling industry become stabilized and revitalized.
A centerpiece into the PILOT that is so-called program a bill that will need all eight casinos to annually pay the amount of $150 million to your city in place of property taxes for a amount of couple of years. The gambling venues would additionally pay $120 million for the following thirteen years.