RSS FeedA must for Atlantic City
I’ve said it for years…legal sports betting is essential towards Atlantic City cementing its place as the casino capital of the East. Now, it looks like it has a shot of happening.
From the Las Vegas Sun:
An Assembly committee will hold hearings next week on a bill to legalize sports betting, but lawmakers need to overcome several hurdles before wagers can be placed on games.
Federal law bans sports wagering in most states. However, lawmakers here are pushing sports betting as a way to stave off a budget deficit and to help Atlantic City casinos fight competition.
Assembly Speaker Albio Sires, D-Hudson, now says he backs sports betting as a way to help ease what may be a $4 billion gap in the next state budget.
“Sports betting is a very intriguing idea that could help solidify the financial standing of Atlantic City’s casinos while producing a new revenue stream for state programs that help seniors and residents with disabilities,” said Sires in a statement issued Wednesday.
The bill backed by Sires would raise $92.5 million for various programs by taxing an estimated $1 billion in bets. Bets would be made in person at a casino and no wagers would be allowed on college or other amateur sports events.
Voters would be asked to approve sports gambling in a referendum, under the measure.
Las Vegas SUN: Odds get better for legalized sports betting in New Jersey
This is exactly the strategy that worked for casino legalization in Atlantic City 30 years (or so) ago–stress the fiscal benefits for all state residents and local development and jobs. When phrased that way, there’s really no coherent argument to be made against it.
Posted in atlantic city
December 1st, 2004 at 4:21 am
How about creating jobs and strengthening the economy by creating an urban economic renewal task force to kill homeless people, jobless people, and people incapable of returning to work?
Flawless argument. I’m presenting it to the City Council next week.
… Gambling is somewhat less immoral than murder, I guess. But then again, I have created my own personal moral code, and am not bound by traditional societal mores.
What a piece of luck.
♥ EZ