New Jersey Gambling
<br><p>Legal New Jersey online gambling and land based casino news. </p>
NJ Senate Approves Tax Incentive to Aid in Atlantic City Stability
(Associated Press) - The latest update of New Jersey’s corporate tax incentive programs includes a bid to get more help to Atlantic City, which has been hit hard by the recent closure of several boardwalk casinos.
Atlantic City Casinos for Sale at Deep Discounted Prices
ATLANTIC CITY, N.J. (Associated Press) -- The meltdown of Atlantic City's casino market has created some stellar bargains for would-be purchasers of some of the city's biggest landmark properties. Here are a few of the recent discount sales:
Icahn Claims State Senator is ‘Selling Out Atlantic City’
ATLANTIC CITY - Carl Icahn accused New Jersey's Senate president of "selling out" Atlantic City by considering casinos near New York City, while the legislative leader said the state would not give the billionaire investor the tax breaks he is seeking.
Icahn responded Friday to stinging criticism by Stephen Sweeney (D., Gloucester) and others about Icahn's role in a proposed bailout of the struggling Trump Taj Mahal Casino Resort. Icahn said he would give the casino $100 million, but only in return for union givebacks and tax credits.
New Jersey Racetracks Form Regulatory Group to Embrace Sports Betting
OCEANPORT, New Jersey — (Associated Press) - A New Jersey racetrack has taken another step toward offering sports betting if it becomes legal in New Jersey.
Monmouth Park Racetrack announced Thursday it has formed a group to regulate sports betting at the track.
The track says the purpose of the Independent Sports Wagering Association is to ensure a secure and reliable wagering environment and to safeguard the integrity of the games being bet on.
Official say the group is modeled after organizations in the financial sector and real estate industry.
Ifrah: Injunction on New Jersey Sports Betting Should be Lifted
Speaking with CalvinAyre.com at last week’s G2E Gaming Summit in Las Vegas, high profile industry attorney Jeff Ifrah said that Judge Michael Shipp should lift the injunction on sports betting. Will he? That remains the million dollar question.
Revel Casino Auction Ongoing Tuesday
ATLANTIC CITY (Associated Press) - A bankruptcy court auction for Revel, the failed luxury casino-hotel on the Atlantic City Boardwalk, is scheduled to resume.
An auction that began last Wednesday was suspended due to the approach of the Rosh Hashanah holiday. It will continue on Tuesday.
Revel has refused to reveal details of what has transpired so far.
NJ Sports Betting Bill II to be Introduced Thursday: Leagues Cry Foul
Just days ahead of New Jersey state senator Raymond Lesniak’s anticipated introduction of a new sports betting bill, the professional sports leagues have decided to sue the Garden State for Governor Chris Christie's decision to permit legalized sports wagering absent of any law.
The leagues won’t have any of this, however, claiming that New Jersey is in violation of the Professional and Amateur Sports Protection Act. ("PASPA").
New Jersey Online Gambling Market Continues to Grow
Get the full run-down of the New Jersey online gambling industry since it first opened in November 2013.
So in case you’ve been living under a rock for the past year, online gambling has officially become legal in the state of New Jersey. Despite the struggling casino industry in Atlantic City, it seems that online betting in New Jersey has already taken off. Within just six weeks after the market opened back in November 2013, the online gambling industry generated $8.6 million.
Carl Icahn to the Rescue of the Taj Mahal, Betfair to Remain in NJ
Carl Icahn, who already has interests in one Atlantic City casino, is looking to possibly infuse money into the troubled Trump Taj Mahal, but only under certain conditions.
Breaking News: Ultimate Gaming Exits NJ Market in Wake of Taj Mahal Bankruptcy
LAS VEGAS - Ultimate Gaming announced today that it has terminated its online gaming agreement with Trump Taj Mahal Associates LLC, which filed for Chapter 11 bankruptcy protection. The agreement was terminated due to multiple breaches by Trump Taj Mahal Associates. As a result of the termination, Ultimate Gaming will be withdrawing from the New Jersey online gaming market. Ultimate Gaming will continue to maintain its existing online poker operations in Nevada through UltimatePoker.com.
3000 Taj Mahal Employees Given Notice They May Lose Jobs
ATLANTIC CITY, N.J. — (Associated Press) - The owner of the Trump Taj Mahal casino has sent notices to more than 3,100 employees warning it could be shut down in November.
Trump Entertainment Resorts told The Associated Press it filed the notices earlier this week, saying it could close Nov. 13.
The company filed for bankruptcy on Tuesday and threatened to close the Taj Majal if it doesn't get concessions from its unions.
Revel has $90 Million Offer to Buy Closed Casino
ATLANTIC CITY, N.J. — (Associated Press) - A Florida developer has offered $90 million for the Revel Casino Hotel that shut down last week, lawyers for the resort said Wednesday in court documents.
The casino said in the bankruptcy court filing that Glenn Straub's Polo North Country Club, Inc., made the cash bid for the $2.4 billion resort. The casino also wants a judge to set an auction for Sept. 24 if any higher bids are received by Sept. 23. A bankruptcy court judge would have to approve any sale.
Christie, Sandoval Talk Combining Online Poker Players: No Sports Bets at Caesars
New Jersey Governor Chris Christie told the Las Vegas Review-Journal that he and Nevada Governor Brian Sandoval discussed possibly combining both states online poker player pools during a gaming conference in the Garden State on Monday.
Breaking News: Trump Atlantic City Casinos File for Bankruptcy, Taj Could Close
ATLANTIC CITY, N.J. (Associated Press) — Trump Entertainment Resorts filed for bankruptcy Tuesday and threatened to shut down the Taj Mahal Casino Resort, which would make it the fifth Atlantic City casino to close this year.
Christie in Closed Door Meeting to Discuss Fate of Atlantic City
ATLANTIC CITY – (Associated Press) - Gov. Chris Christie said Monday that Atlantic City is undergoing a natural and necessary transformation as it expands beyond a gambling-only resort.
Christie convened a summit meeting on the resort’s future that was closed to the public and press for all but the very beginning of his remarks. But afterward, he said the changes buffeting the seaside gambling resort couldn’t be avoided.
Atlantic City began the year with 12 casinos. Three of them have already closed, and a fourth is shutting down next week.
Caesars Counting on Cold Weather, New Ad Campaign to Boost NJ Online Gambling
AdWeek.com says Caesars Online Casino is counting on a reboot in the Garden State when cold weather starts to roll in this November. They will be pushing a more aggressive advertising campaign on television as well, similar to that we saw earlier in the year with the Borgata and its partner site PartyPoker. New Jersey is served by two major television media markets: New York and Philadelphia.
Breaking News: NJ AG Directive No Longer Enforcing Sports Betting Ban
Sports Betting Victory At Last! That's what NJ State Senator Raymond Lesniak proclaimed on Monday morning.
Trump Plaza Might Try to Keep Betfair Online Gambling Relationship After Closure
(Associated Press) - Two Trump casinos in Atlantic City are in turmoil as the closing of Trump Plaza nears.
Trump Plaza is considering keeping its Internet betting operation online after the physical casino closes Sept. 16, and the Taj Mahal is experiencing money problems.
In a petition to New Jersey casino regulators, Trump Entertainment Resorts says it might try to keep its Internet gambling operation with online partner Betfair going after Trump Plaza closes on Sept. 16.
Revel Starts Shutdown Monday After Just 2 Years
ATLANTIC CITY, N.J. (Associated Press) — The most spectacular and costly failure in Atlantic City's 36-year history of casino gambling begins to play out Monday when the $2.4 billion Revel Casino Hotel empties its hotel.
Its casino will close early Tuesday morning.
Revel is shutting down a little over two years after opening with high hopes of revitalizing Atlantic City's struggling gambling market. But mired in its second bankruptcy in two years, Revel has been unable to find anyone willing to buy the property and keep it open as a casino. It has never turned a profit.
Chris Christie Law Firm Bills $780,000 for Sports Betting Case, Other Items
POINT PLEASANT, N.J. — (Associated Press) - The law firm hired to defend Gov. Chris Christie's administration in the George Washington Bridge lane-closing scandal has charged the state another $780,000 for work this summer. That's in addition to $6.5 million billed through April.
Plans for New Jersey Gambling Unveiled
(Associated Press) - Developments about the future of gambling in New Jersey came out of Atlantic City, Trenton and the Meadowlands on Tuesday.
— MEADOWLANDS CASINO ... AND MONORAIL
Business leaders laid out plans to transform the Meadowlands into a multi-venue entertainment district, with casinos, hotels, a convention center and even a monorail. Jim Kirkos, head of the Meadowlands Regional Chamber of Commerce, said the goal isn't to build a new Atlantic City. He and others say the upside is huge, given the millions of people within a short drive.
Revel Not Dead Yet: Still Seeks Sale While Losing $1 Mil a Week
CAMDEN, N.J. – (Associated Press) - The troubled Revel Casino Hotel in Atlantic City still hopes to auction off its property but needs to close to stop big losses, a lawyer for it said.
Attorney John Cunningham said in bankruptcy court Monday that the casino is losing more than $1 million every week, The Press of Atlantic City reported.
“Our earnest hope is that we will have a successful auction,” Cunningham said. “But it takes two to tango. … It may be [that] some of the dust has to settle from the shutdown.”
Revel Casino Wanted to Close Today (June 18)
ATLANTIC CITY (Associated Press) — If the owners of Revel Casino Hotel had their way, the $2.4 billion resort would have been shut down on Monday.
Revel Entertainment had asked New Jersey casino regulators for permission to close down on Aug. 18. But the state Division of Gaming Enforcement denied the request, eventually prevailing upon Revel to remain open until Labor Day weekend.
Revel’s hotel will close at 11 a.m. Sept. 1, and the casino will shut down at 5 a.m. the next morning.
Revel Casino Still Looking for Bidders
Atlantic City, N.J. (Associated Press) - A day after announcing it will shut down next month, Revel Casino Hotel told a bankruptcy court judge it is still negotiating with potential buyers.
In a notice adjourning an auction of Revel that had been set for Thursday, its lawyers say they are engaged in "ongoing negotiations" with "certain potential bidders" they did not identify. The filing follows Revel’s announcement that will shut down by Sept. 10, having been unable to find a buyer.
Atlantic City’s Revel Casino to Close in September
ATLANTIC CITY – (Associated Press) - Atlantic City's newest casino is shutting its doors just over two years after opening amid high hopes of turning around the crumbling seaside resort's gambling market.
Revel Casino Hotel will shut down next month after failing to find a buyer in bankruptcy court, company officials announced Tuesday.
The company said the $2.4 billion casino will close its doors on Sept. 10. It has never turned a profit.
The closure will mean the loss of more than 3,100 jobs.
Will He or Won’t He: Christie Vetoes Sports Betting Bill
As has been the case with similar gambling legislation, New Jersey Governor Chris Christie tends to wait until the very last minute to make his final decision: Sign or veto.
This time he didn't wait until the last minute.
Chrisie had until Monday to sign a controversial piece of legislation that would bring sports betting to the Garden State and its various casinos in Atlantic City as well as racetracks. By Friday afternoon, Christie had pulled out his veto pen.
Two Alleged NJ Mobsters Sentenced for Role in Online Sports Betting Ring
75-year-old "Uncle Patsy," aka Pat Pirozzi, and 49-year-old John Breheney, better known as "Johnny Fugazi" or "Fu", were sentenced Tuesday for their role in what New Jersey authorities called a “sophisticated, mob-backed Internet gambling scheme based out of Costa Rica”. A third individual has pleaded guilty to conspiracy.
Trump Sues to Get Name Off of Atlantic City Casinos Including Taj Mahal
ATLANTIC CITY – (Associated Press) - Donald Trump is suing an Atlantic City, New Jersey, casino company, trying to force it to drop his name from its two gambling halls.
Trump tells The Associated Press he wants his name stripped from the Trump Plaza and the Trump Taj Mahal because their owner, Trump Entertainment Resorts, has failed to maintain them properly.
Trump says in a lawsuit filed Tuesday the poor condition of the casinos is hurting his personal brand.
Trump Entertainment Resorts has declined to comment.
New Jersey Residents May Not Want Casinos Outside of Atlantic City
TEANECK, N.J. (Associated Press) - A new poll found that half of New Jersey residents oppose opening casinos outside Atlantic City.
The idea is being promoted by some lawmakers as a way to raise money that would go to Atlantic City, where casinos are struggling.
Fairleigh Dickinson University's PublicMind poll released Monday found that 50 percent of New Jersey adults oppose the idea of opening gambling halls outside Atlantic City, while 42 percent favor the idea.
Christie Signs Law for Gamblers to Ban Themselves: Like Getting a Vasectomy
On Thursday, New Jersey Governor Chris Christie signed into law a measure that permits residents to ban themselves from playing at any of the state’s casinos or licensed online gambling websites.
