Officials of the gambling industry and gaming analysts are predicting that if New Jersey is able to set up two new casinos in the northern portion of the state, they will be successful. The casinos could actually be some of the most successful in the United States. Legislators want to see the casinos created to try and regain the gamblers who no longer visit Atlantic City, but difficulties could come about, especially if New York builds a casino, which is expected to happen.
The casinos in the northern portion of the state would then face competition from New York as well as be competition for older casinos located within the state, Connecticut and Pennsylvania. All of these surrounding states have been drawing residents of New Jersey away from the Atlantic City casinos for some time now.
Legislators in New Jersey are moving forward this November to add a question to the ballot that will ask voters if they will approve the two new casinos up north. The casinos would be located over 70 miles from Atlantic City, the only area that has offered gaming previously. The locations for the two new casinos have yet to be named but the options mentioned quite often include Jersey City and the Meadowlands Racetrack.
Meadowlands operator, Jeff Gural, is working with Hard Rock International on a casino proposal and feels that his location would do well. Gural stated that the Meadowlands has the best location for a casino venue in all of the United States and that 14.6 million people live within a 50 mile radius of the race track. Gural believes that a casino on his property would earn $800 to $900 million each year, with some analysts believing the venue could actually bring in $1 billion in annual revenues.
Paul Fireman, a major player in the footwear industry, is involved with the other casino proposal but has yet to discuss his plans, but we do know the project has a $4 to $5 billion price tag and would be located in Jersey City.