http://www.pressofatlanticcity.com/n...cc4c03286.html
In JURSEY maybe
http://www.pressofatlanticcity.com/n...cc4c03286.html
In JURSEY maybe
nice to see that fat tub of lard Christie is protecting the finances of the casino industry once again.
so does that mean that tracks can now install the video slots? or do they lose the money and too bad about the slots?
I think the title racino in this thread is confusing. This doesn't really involve a racino, as I understand it. I think this involves casinos and racetracks.
You're right-these were subsidies that the casino commission received.Originally Posted by gravano
Racinoes are verbotten in Christie and Trump's fiefdom.
After reading the article, it was surprising to see that not every track had their hands out begging for money.
The man who complains about the way the ball bounces is likely the one who dropped it - Lou Holtz
The way I understand it is "OK, no more subsidy from anywhere, horse racing. Find a way to make it work with just racing or go out of business."
The original deal was that the tracks wouldn't pursue slots if the casinos agreed to subsidize purses. It was mutually beneficial, but that was in 2004.
I see nothing wrong with that approach.
Everyone come home sound
You do realize this only works if NO tracks have slots subsidies...right?
Other states made other choices. But they don't have the Atlantic City casino cash cow to protect. Jersey has made a choice....I don't see anything wrong with it.
Everyone come home sound
That's not an answer. It's not even a good deflection.
Feel free to try again.
I guess you could argue if you look at what the casinos are/were doing and that is buying out the competition (paying them not to add slots in a way that would meaningfully threaten their business) then the idea of an even spread doesn't make perfect sense. It would make more sense that the tracks that have higher attendances and a location that threatens their casino crowd would deserve more of the money. But it seems to be a moot point.
I do. The casinoes in AC are dying, and the current project is milking taxpayer funds. If I live anywhere outside of a 45 minute drive from AC, I have a local casino to go to, and don't need the hassle for the AC expressway and the tolls to have to go to the dump that AC is and always has been to gamble.
The NJ tracks and the AC Casinoes can coexist, despite Trump's concept that the tracks are competition for his casino fiefdom.
A casino needs to be opened in the Xanidu complex, co-owned by Gural and Bailey, with a deadicated revenue stream going to the 3 NJ race tracks, just like what the casinoes in PA and DE do.
A casino in the Meadowlands would be a gold mine.
Would you like an answer that gives Jersey tracks money to prop them up? Like other states do? Keep in mind that those other states don't have Atlantic City. To ignore a multibillion dollar industry in favor of a dying product in Jersey would be stupid.
There is no other answer but to let the Jersey tracks survive or die on thier own merits. That is what they have decided. As I said, I see no problem with that.
Everyone come home sound
The nearby casinos in Pa and other states have hurt the AC product. There is no doubt of that, but those other states have a racing product that is resident with the Race track. Jersey has a standalone casino product and a major venue already invested in the casino industry. They are not trying to create something new, they are trying to save not only an industry, but literally tens of thousands of jobs.
Pa and others lobbied to save racing jobs while creating new jobs in the casino industry. Unlike those other states, Jersey has more jobs and a lot more money tied up in the existing casino product. I'm sure the decision would be no different in Nevada.....where racing died a graceful death long ago.
Everyone come home sound
A/C has never realized the dream it was supposed to be..as the cowboy said''a dump''...I made a trip to Monmouth Park last year and plan on going this year..it was a wonderful day out and the history the place breathes is not replacable..if A/C gets money..gov't. handouts then so should the race tracks..i wonder how much the state recieves in taxes from the many claimed horses that are bought dailey..should that be included in the states coffers? We are talking about a lot of revenue..does A/C give the state of N.J. such revenue?Wondering in Pa.
hard spun hard spun hard spun..now i will click my heels together
The tracks and AC can coexist-you don't need to kill the 4 existing tracks to save AC.
BUILD A CASINO IN THE MEADOWLANDS.
Morris Young and Jeff Gural are casino people-let them come together and build Xanidu into a modern palatial casino, and for the priviledge of doing so, THEY can fund the racetracks adequately.
What's funny is the current purse structure at Mommouth is still higher than purses at the PHA, DelPark and Charles Town, despite the racino subsidies that they receive, because handle at Monmouth is twice that of the PHA, DelPark and Charles Town. That's because the racing product at the non slot subsidized track is better that the slot subsidized track. But Monmouth's major competitor is NYRA, and after the Aqueduct casino is up and running, their purses will put Monmouth out of business without slots adding to Monmouth purses.
BUILD A CASINO IN THE MEADOWLANDS.
Last edited by Whos the Cowboy; 07-12-2011 at 05:31 AM.
This is a tough call for the state. There are about 35,000 people employed by the AC casinos. They get paid over a billion dollars in taxable income yearly. That is not small potatoes to any state. On top of that, the casinos pay the state a piece of every wager. I have no idea what that is worth, but I suspect it is sizeable. I can't fault any state for trying to protect a vital industry, and those casinos are vital to the Jersey landscape.
At the same time, Monmouth is a beautiful and historic plant. I hope they can find someone to run it a a profitable venue. I don't see how proping up the Meadowlands would help either Monmouth or the casino industry.
Everyone come home sound
The fat tub of lard governor protects AC because of the subsidies that his campaign coffers have received from Donald J Trump and his cohorts. It has NOTHING to do with AC being a vital industry. It has everything to do with being Christie's friend.
Maybe now that Monmouth and the Meadowlands are owned by casino people(I wonder how that happened???), they can get the Big Guy's attention the same way that Trump does-PAY HIM OFF
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