New Republican Governor has established an Advisory Commission to develop policies to repair state’s gaming, professional sports and entertainment industries.
Tuesday 23rd February 2010
In an effort to help save the state’s struggling casinos, the new Republican Governor for New Jersey, Chris Christie, has announced the creation of the New Jersey Gaming, Sports And Entertainment Advisory Commission.
The seven-member Commission is to be headed by Jon Hanson, the former Chairman for the New Jersey Sports And Exposition Authority, and has been tasked with devising a comprehensive policy to repair the financial and structural challenges confronting the state’s gaming, professional sports and entertainment industries.
The Commission will serve without compensation and will be dissolved no later than June 30, which is the deadline for submitting its final report and policy recommendations to the Governor.
According to a report from the Bayshore Courier newspaper, the recently released Transition Subcommittee reports on gaming, entertainment and authorities found Atlantic City casinos burdened by grossly uncompetitive regulatory expenses with a municipal government failing to support the industry. In addition, the state’s Meadowlands sports and entertainment complex was found to be anchored by the financially strapped Xanadu project while its racetracks are due to lose $22 million this year.
“We can no longer let Atlantic City wither in the face of competition, have our arenas and stadiums go underutilised or have a Sports Authority that is unable to maximise our entertainment investment and resources,” said Governor Christie.
“Previous efforts have been piecemeal, weak and failed to look at all the problems in a whole and comprehensive way. This will be a blueprint to guide our policy in fixing our sports and entertainment infrastructure in New Jersey, to make all its parts self-sustaining, attractive to wider audiences and revenue positive for the long term.
“But the Advisory Commission will also be working with my administration in real-time, to move quickly to solve critical contractual and other issues we confront in the short term.”
