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Atlantic City Open for Business

With the shut down by the Governor of all state business and employees, Atlantic City has been dark – no tables, no slot machines running – completely dark. The state shut down due to the fact that they could not balance the budget, and in the process shut down Atlantic City. The casinos cannot run without the state regulators, and the state regulators cannot be there with the government shut down. Even though the regulators are paid by the casinos, they are still considered state employees.

However, much to everyone’s surprise and delight, the casinos are open again, and the slot machines are spinning. The state passed the budget after an all night session, and the casinos were back up and running a little over an hour later. The shutdown hurt the casinos badly, with 36,000 casino employees out of work, and lost revenues to the state of roughly $1.3 million a day. This was the first time in the 28 years of legalized gambling in Atlantic City that the casinos had closed.

It also hurt them that this was one of the busiest times of the year for the casinos, and with the casinos closed it hurt all of Atlantic City. Tourists were not willing to come to the town knowing they would not be able to gamble, so the casinos, the hotels, the restaurants, etc. all were hurt by the closure. The governor wanted an increase in sales tax that the state Assembly refused to honor. The increase, from 6% to 7% ended up getting passed, but half of the new money is supposed to go toward cutting property taxes within the state. The new sales tax will end up costing the average NJ family an additional $275 per year.

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