Monmouth situation increasingly dire..

[pointman]

Originally Posted by Cannon Shell

I hve no problem with the casino wanting to end the payments. However the reason that they were making them is still unresolved and a rational idea would be to form some sort of partnership to construct a casino at the Meadowlands that would help everyone. Of course AC doesnt want to do this because they are too greedy to share the profits, The Gov doesnt want to do this because he sways the way the casinos wind blows (obviously not an easy thing to accomplish considering his bulk) and lets face it the 1st 2 parties would rather bankrupt the "competition" before partnering with them.

As I understand it, the subsidies by the casinos were agreed to in exchange for the State not allowing casinos elsewhere in the State, partiuclarly the Meadowlands, which would compete with Atlantic City. Now that AC is really in the sh!tter and has competition from everywhere surrounding it, Delaware, Pennsylvania and New York, they don't want to pay the subsidy yet AC still wants no competition within the State of New Jersey.

The casinos are obviously in the politicians pockets (and this is not limited to one party), yet I'm not sure why NJ government would not want to allow the racetracks to open casinos to subsidize both the horse racing industry (so they can at least compete with their neighbors) and raise valuable tax money for the politicians to spend. Lord knows that politicians in the Northeast can NEVER spend enough money.