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A legislative measure to revive Atlantic City’s struggling casino industry has passed a state senate committee and is on its way to the Full Senate for a vote.
While a timeline has not be set yet, the full Senate will review the bill introduced by Senator James Whelan, to permit four “boutique” casinos to build in the area with a minimum room requirement of 200.
The current room requirement is 500 however most of the newer gaming properties have at least 2,000 rooms.
The purpose of the bill is to attract investors to the area that is suffering from added competition in Pennsylvania and Delaware.
“With the state of the economy right now, Atlantic City simply cannot attract the sort of investors who can take a risk on a mega-resort in the same vein as the Borgata or some of the older casinos,” Whelan said. “This bill would allow investors to phase in their investment in Atlantic City and will hopefully attract greater interest from gaming vendors who were hit hard by the global recession.”
But many of the existing casinos oppose the change, saying it would reduce the standard visitors have come to expect.
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