Casinos in Atlantic City require financial aid from the state

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Peter Brandt 10. August 2020

Although the legislators of the state of New Jersey had already promised the casinos in mid -June, no money has been flowed so far. The daily newspaper The Press of Atlantic City recently pointed out in a report that the draft laws that are supposed to enable state aid have still not been decided, although the lower house and the upper house had fundamentally approved the designs. Around a month ago, the casinos in Atlantic City were reopened under strict hygiene and security measures and have been fighting with the number of visitor numbers that have fallen and failed since then.

The Corona pandemic has hit the casinos in Atlantic City hard, which is why it is now demanding financial support from the government. ((©1778011/Pixabay)

Laws should help the gaming industry to relax

So that Reopening of the casinos Despite the new security and hygiene measures, the casino operators should be secured by the two new draft laws (S2400/A4032 and S2398/A4031). In these were Tax relief, freedom of fees and interest -free loans set to enable those responsible more business scope. This step hoped that the operators hoped that the ongoing company was secured, but the government, on the other hand, was protecting thousands of jobs. Likewise, the massive losses could at least partially be compensated for by the almost four -month standstill of the company. After all, the gambling industry is the most important industry in Atlantic City.

The course from the draft to the applicable law in the US state of New Jersey. At the very beginning there is always an idea, a proposal to improve or change existing facts or new circumstances. This is followed by a draft law. In order to really be anchored in the US state of New Jersey, the approval of the lower house (General Assembly), the Oberhaus (Senate) and the governor of the state is necessary. However, if a contradiction (veto) is lodged by the governor, it must be justified on the one hand and, on the other hand, contain proposals for changes. The two houses then have time to incorporate the claims into the draft law or to reject the governor’s objection by means of a two-thirds majority and adopt the original draft and thus convert to the valid law.

Louis Greenwald, chairman of the lower house, was responsible for the presentation of the draft laws, but pointed out that the next step to support industry must be discussed in detail. After all, the situation is very unstable due to the continued corona pandemic. The effects of the virus are difficult to predict because the scope of the spread is constantly changing. From the legislator’s point of view, the current phase must therefore be regarded as a phase of learning. But that also means that the Farewell to the laws will probably take a little time. Such statements are not particularly well received by those responsible for the casinos. Time runs away because, according to their own statement, they rely on the financial state aids.

Corona pandemic threatens thousands of jobs in the casinos

The ongoing hesitation of those responsible from the government districts of the US state met with little benevolence and understanding among the owners and owners of the casinos. According to the report of the daily newspaper The Press of Atlantic City, the economic consequences by the restrictions imposed by the governor are only to be absorbed through state financing aids. Otherwise, the bankruptcy and thus the loss of thousands of jobs in the gambling industry that are so important for the coastal city are threatened. A recovery in the industry is currently almost impossible without financial injections, which the chairman of the Hard Rock Casinos, Joe Lupo, confirmed in the interview:

“The restrictions under which we work and all the other covid measures in the state have changed the main goal and this is not portable under the guidelines over a longer period of time. Without support, I see real problems for the future. ” – Joe Lupo , Chair of Hard Rock Casinos, Tageszeitung The Press of Atlantic City

Terry Glebocki, the managing director of the Ocean Casino Resort, hits the same notch. In a conversation he referred again to the Necessity of the casino aid packages. After all, comparable help from the government has already flowed in other industries. As a result, numerous livelihoods were saved. This path is also essential for the gambling industry.

The restrictions in the casinos determined by the governor significantly influence the gaming experience or the casino visit. A maximum of 25 percent of the visitor capacity may currently be filled out. Smoking is also forbidden. The consumption of drinks or dishes is currently not allowed what the visiting time or Deverage of the guests also significantly reduced. Since the Corona pandemic in the United States does not seem to be abbot, the restrictions will probably still stop for quite a while. This in turn makes state financing aids all the more urgent.