Panelists at a major casino industry conference in Atlantic City say the construction of three new casinos in New York could cost New Jersey 20% to 30% of its casino revenue.
Mark Giannantonio, president of Resorts Casino and of the Casino Association of New Jersey, declined comment on Allen's remarks.
“The ones that don't will get right-sized or shut out of the market,” he said, adding “this is going to be a very long process.” Allen said the revenue numbers reported by the state each month give a misleading picture by including sports betting and internet gambling revenue. That money must be shared with third-party providers and is not solely for the casinos to keep.
A $100 million year-round water park is due to open this year, and Caesars Entertainment is adding a new entertainment venue and a Vegas-style residency show. Allen noted there are no current plans for another referendum on a north Jersey casino, and said he was not aware of any sentiment among state lawmakers to revive the issue in the near future.
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