A November referendum will decide whether Atlantic City will lose its decades-long monopoly on casinos within the Garden State.

Back in 1978, when Resorts Casino Hotel opened, it was the primary legal casino outside of Nevada within the U.s.. These days, there are greater than 40 casinos and racinos within the Northeast, with Pennsylvania now possessing a bigger casino gambling market than New Jersey. Gaming win in Atlantic City was slashed in half over the last decade, from a high of greater than $5 billion in 2006.

The east coast gambling Mecca was poised for the Las Vegas-style growth seen within the 1990s, however the Great Recession came and so did beefed up gambling industries from neighboring states. Superstorm Sandy in late 2012 also dealt an immense blow to Atlantic City. To make matters even worse, New Jersey has engaged in a costly battle to bring sports books to Atlantic City, however the courts have sided with the most important professional sports leagues and the NCAA.

Atlantic City casinos tried to broaden their appeal because the competition loomed, however it ultimately didn’t work. Four of the city’s then 12 casinos closed in 2014, with another—the Trump Taj Mahal—set to near this year. Revel, a $2.4 billion casino that never turned a profit and required state help to open within the first place, appeared like it was going to reopen this summer, but now the developer is threatening to stroll away way to what he sees as government red tape.

Experts believe that Atlantic City may well be left with just four casinos should north Jersey casinos be approved. Along with the Taj Mahal, the city’s three smallest casinos on the subject of gaming win, and certain most in danger, are Resorts, Golden Nugget and Bally’s.

The future for Atlantic City, which flirted with the speculation of bankruptcy before state lawmakers passed a rescue package, may be threatened by $1.5 billion worth of investment in new Empire State casinos. Ny estimated that its residents spend $1 billion once a year at out-of-state casinos, numerous which fits to Atlantic City.

The Philadelphia area may even soon get another casino.

The Nov. 8 vote in New Jersey will officially decide if two additional casinos in north Jersey must be allowed. Atlantic City casinos licensees can be given six months to draft proposals for casinos in north Jersey with no less than a $1 billion investment. North Jersey might be especially attractive for MGM Resorts, which failed in lobbying for a casino in Ny city. If no Atlantic City operator submits a suggestion under the state’s guidelines, casino operators outside of latest Jersey could submit proposals.

According to ballotpedia.org, the question that voters will see reads:

Do you approve amending the Constitution to allow casino gambling in two additional counties on this State? At present, casino gambling is authorized only in Atlantic City in Atlantic County. Just one casino in all of the two counties can be permitted. Each casino is to be located in a town that may be no less than 72 miles from Atlantic City. The amendment would allow certain persons to use first for a casino license.

The state legislature was tasked with arising with the proposal, and it has the blessing from lawmakers (85 percent within the Senate and 76 percent within the Assembly), in addition to Gov. Chris Christie. He said recently that he'll campaign for the approval of north Jersey casinos. Opponents include the mayor of Atlantic City, the brand new York Gaming Association, unionized workers in Atlantic City, among others. Critics indicate that jobs can be lost in economically depressed Atlantic City, a space with unemployment and foreclosure rates some of the highest in America. The town also $550 million worth of debt and a $100 million budget deficit.

Atlantic City Mayor Don Guardian told the Associated Press this past spring that “there can be devastation” if the state’s constitution is amended to damage the casino monopoly.

Even before the referendum became official, Hard Rock International and the Meadowlands Racetrack in East Rutherford agreed to partner for a casino proposal. Deutsche Bank estimated that the casino could generate $500 million a year in gaming revenue. Jersey city has also been speculated as a casino location.

A tax rate for the north Jersey casinos hasn’t been hashed out yet, but there reportedly are discussions to make it higher than Atlantic City’s eight-percent tax on gaming revenue. One of the most tax revenue could visit bolster Atlantic City’s remaining casinos.

According ballotpedia.org, an ordinary of the highest polls done thus far has revealed that the ballot question could go either way, with a slight advantage at this time going to the opposition.

While the brand new Jersey casino vote is by far essentially the most noteworthy for the yank casino gambling industry, there are other important referendums happening elsewhere. Five other ballot questions are: Massachusetts authorization of a second slots-only casino, Rhode Island’s approval of the dual River Casino in Tiverton, two horse track regulatory issues in Nebraska and Arkansas casino legalization and regulation.

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