On Thursday, the approval was made to allow casinos to negotiate the price of horse race broadcasting, allowing simulcasting to remain available. The bill will soon head to the desk of the Governor for a final signature. Governor Christie has tended to sign bills that are designed to assist the suffering horse racing industry and the Atlantic City casino industry.
Assemblyman Vince Mazzeo states that it is essential to do everything possible to restore a wounded Atlantic City by maximizing any gambling opportunities. This legislation will offer a fix to issues surrounding casinos that offer simulcast racing and will allow them to continue to offer services and allow bets to be placed in the casinos.
Bill A-3972 will allow NJ casinos and out of state tracks to negotiate the amount casinos pay in order to offer simulcast racing. The Casino Stimulating Act will cap the rate that is paid by offering a fixed percentage based on the amount wagered on each race.
By not having the ability to pay a higher rate should simulcasting fees increase, casinos will run the severe risk of not being able to provide these services to customers. The legislation will be the key to paving the way for more casinos to offer simulcasting.
For more than 20 years, simulcast players have been able to watch races at casinos, but with some trouble in the industry, they have found it hard to find in-state facilities that are offering simulcast betting. Caesars Atlantic City Hotel & Casino is one property in AC that offers simulcast betting; while all four New Jersey horse tracks offer the service. With this bill, negotiations can occur that will allow the state to remain competitive in the gambling industry and keep offering simulcast parlor services.
The current law limits the amount that a casino in Atlantic City may pay for out-of-state transmissions of simulcast races to a maximum of 6% on each race based on the pari-mutuel pool. This bill will allow for the negotiation of higher rates so casinos can retain their rights to transmit the simulcast races.