(TRENTON) — Assembly Speaker Vincent Prieto (D-Bergen/Hudson) issued a multimedia package Monday after reaching an agreement that meets his goals for expanding gaming — a compromise deal that ensures world-class casinos for northern New Jersey.
The deal, to be cemented in legislation that will advance during the legislative session that starts Tuesday, calls for asking voters to approve two new casinos for northern New Jersey. Atlantic City casino license holders would have six months to submit proposals to build the new casinos, and their plans must call for investing at least $1 billion in each facility.
If that criteria isn’t met, those without Atlantic City licenses can bid to build the new casinos. They would also be required to invest at least $1 billion for each facility.
A transcript of Speaker Prieto’s comments is appended below:
Assembly Speaker Vincent Prieto (D-Bergen/Hudson):
“I’m very happy that we have reached a compromise agreement going into the next session.
“That it’ll bring world-class casinos to the north. That that’s been one of the concerns of mine. That it’ll be a first-class entertainment and that way we’ll be able to generate revenues that will take care of Atlantic City and the rest of the State of New Jersey.
“And it meets the expectations of what I’ve been looking all along is a compromise to make sure that the right type of casinos are built in the north to maximize the benefit for the State of New Jersey.”