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Date Posted: 08:33:52 02/26/03 Wed
Author: talkonline
Subject: clipped from DELAWARE ONLINE NEWS JOURNAL

Casinos, racetracks are at odds in N.J.
Video slots at center of gambling dispute
Associated Press
02/23/2003

Competition for Atlantic City's casinos is on the way, regardless of whether video gambling terminals are placed at the Meadowlands Racetrack, the state's Democratic senate leader said.

"I understand the casinos' opposition, but what happens when New York and Philadelphia put them in?" Democratic Senate President Richard Codey told The Press of Atlantic City. "We can't put our heads in the sand. I think casinos have to work with the state and the Legislature and say, 'What's a reasonable compromise?' "

Codey leads a group of northern New Jersey lawmakers who support racetrack terminals, essentially slot machines, as a way to raise funds for the ailing horse-racing industry.

Carl Golden, spokesman for the Casino Association of New Jersey, said casinos did $76 million in business last year with firms in Codey's Essex County, and another $20 million in Bergen County, which is represented by video terminal supporter state Sen. Garry Furnari, also a Democrat.

"Presumably, the two senators are willing to risk almost $100 million in combined business in their counties in the interest of putting VLTs at racetracks," Golden said.

Gov. Jim McGreevey wants to boost state gambling revenue by installing racetrack VLTs and increasing casino taxes.

Under his plan, the tax on gross gambling revenue would go from 8 percent to 10 percent. A 6 percent sales tax on casino complimentaries, and possibly a 7 percent hotel occupancy tax, would be added.

State Sen. Bill Gormley, R-Atlantic, and the casino association say McGreevey is using the tax threat as a bargaining chip to get VLTs at state racetracks.

McGreevey formed a commission to study the economic and legal issues surrounding video terminals. The commission, criticized by Atlantic City casino interests for its predominance of northern New Jersey members, will soon get another South Jersey member.

The seven-person commission now has only one southern New Jersey member, Linda Kassekert, who chairs the Casino Control Commission.

Furnari, whose legislative district is home to Meadowlands Racetrack, said "VLTs are coming to this area regardless of whether New Jersey or Atlantic City stand in their way."

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[> more quotes from FUNARI from today's -- Gambling Magazine, 08:54:29 02/26/03 Wed

(clipped from GAMBLING MAGAZINE)
Furnari, whose legislative district is home to Meadowlands Racetrack, said he understands Atlantic City's distaste for higher taxes. But he said the city's elected leaders "should not be swallowed up by fear of a substantial revenue source which is fully capable of revitalizing the horse-racing industry."


"VLTs are coming to this area regardless of whether New Jersey or Atlantic City stand in their way," Furnari said. "I hope the certainty of their coming dawns on the bright lights of Atlantic City so obstructionists step aside."


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