|History of Casino Gambling in Atlantic City|
|Tuesday, 14 March 2006 06:33|
The issue of casino gambling first appeared on a ballot for New Jersey voters on November 5, 1974. This initial referendum was defeated in 19 of New Jersey's 21 counties, with about 60% of votes cast against it.
A revised referendum, limiting gambling exclusively to the city limits of Atlantic City, was placed on the ballot November 2, 1976. The second referendum was approved by a slim margin, with approximately 1.5 million voters in favor of it and 1.14 million opposed. Atlantic City's first casino, Resorts International, opened on May 26, 1978.
Casino Employment and Vendor BusinessIn 2010, the casino industry in New Jersey employed more than 34,145 people. Casinos purchased over $1.1 billion in goods and services from 1,844New Jersey businesses.
Casino RevenuesCasino finances are usually reported in terms of gross revenue which is the amount casinos win from gamblers after all payouts have been made. Gross revenues were $3.6 billion 2010.
Casino Tax and Reinvestment ObligationsThe state's 8 percent tax on casino gross revenues is devoted to the Casino Revenue Fund which funds programs that provide resources and services to disabled and senior citizens. Casinos are also required to invest 1.25 percent of their gaming revenues into projects screened and approved by the Casino Reinvestment Development Authority (CRDA). With a mandate to revitalize urban centers throughout the state, CRDA has funded a wide array of infrastructure, housing, economic, cultural and social development projects. The CRDA has invested more than $12.1 billion in these projects to date.
Casino Regulatory AgenciesThe state agencies responsible for regulation and oversight of the casino industry are the Casino Control Commission (CCC) and the Department of Law & Public Safety Division of Gaming Enforcement. Legislation and regulations governing the operation of casinos in New Jersey are regarded as models by other jurisdictions where gambling has been legalized.
Opening Dates for Atlantic City Casinos
In July 2006, the casinos in Atlantic City were forced to cease gambling operations due to a state-wide budget crisis. State regulators, whose presence is required for gaming operations, were prohibited from working. The casino floors were closed for three days. Casinos were also shuttered during Hurricane Gloria in September 1985 and Hurricane Irene in August 2011.
RESOURCES IN THE HESTON COLLECTION ON CASINO GAMBLING
A number of books have been written examining the early and ongoing results of Atlantic City's experiment with gambling. These include:
Cialella, Edward Charles. Casino Gambling in New Jersey: A Case Study of Predictions. Ed.D dissertation, Temple University, 1984.
Demaris, Ovid. The Boardwalk Jungle. New York: Bantam, 1986.
Mahon, Gigi. The Company that Bought the Boardwalk: A Reporters Story of How Resorts International Came to Atlantic City. New York: Random House, 1980.
Pollock, Michael. Hostage to Fortune: Atlantic City and Casino Gambling. Princeton, NJ: Center for Analysis of Public Issues, 1987.
Sternlieb, George and Hughes, James W. The Atlantic City Gamble. A Twentieth Century Fund Report. Cambridge, MA: Harvard University Press, 1983.
Teski, Marea, et al. A City Revitalized. The Elderly Lose at Monopoly. Lanham, MD: University Press of America, 1983.
|Last Updated on Saturday, 12 May 2012 14:12|