New Jersey Senate Bill SCR14

New Jersey 2024-2025 Regular Session

• Introduced: 1/9/24
• Refer: 1/9/24

Caption

Proposes constitutional amendment giving Legislature authority to establish slot machine gambling at horse racetracks; dedicates revenues derived to support State-administered defined benefit retirement systems, casinos, improvements to Atlantic City, and horse racing.

Impact

If passed, SCR14 would have significant implications for state laws regarding gambling. Revenues generated from the slot machines at racetracks would be allocated for specific purposes: 60% would support state-administered defined benefit retirement systems, 30% would go to a consortium of casinos based on their investments in Atlantic City, 7% for improvement projects in Atlantic City, and the remaining 3% would support the horsemen involved in thoroughbred and Standardbred racing. This allocation framework aims to ensure that the financial benefits extend beyond just the gambling establishments to support broader economic and community initiatives.

Summary

SCR14 proposes a constitutional amendment that grants the New Jersey Legislature the authority to allow slot machine gambling at horse racetracks across the state. Currently, slot machine gambling is limited to casinos in Atlantic City. The bill aims to expand gambling options into racetracks, providing an alternative revenue stream for both the state and the horse racing industry. This amendment would require the approval of voters at a general election before it can be enacted.

Contention

The amendment has generated discussions around its potential impact on the established gambling landscape in New Jersey. Proponents argue that allowing slot machines at racetracks could revitalize these venues, drawing in more visitors who may not travel to Atlantic City for gambling. This could create a mutually beneficial relationship between the casino and horse racing industries. However, opposition may arise from concerns about the expansion of gambling, local community sentiments regarding gambling addiction, and the potential economic implications on existing Atlantic City casinos.