Hoping to stimulate tourism and gaming in Atlantic City, New Jersey's Gov. Chris Christie has signed legislation that allows developers to build smaller casino hotels, with a minimum of 200 guest rooms instead of 500, his office announced last week.
Signed on Jan. 5, the law specifically provided for the issuance of two new casino licenses to "boutique" properties in Atlantic City.
"This bill will provide a boost to the engines of Atlantic City and the regional economy, bringing badly needed jobs to the area and signaling the re-emergence of world-class entertainment," said Gov. Christie. "While this is an important step in meeting our commitment to revitalize Atlantic City as a premier destination resort, we have more work to do in laying the foundation for growth in this critical area of our economy. I look forward to continuing to work with our partners in the legislature and Atlantic City to implement a comprehensive plan to bring the job creation, capital investment and regulatory reform needed to renew Atlantic City and strengthen our economy."
According to the governor's office, New Jersey's casino industry has been in decline for "several years" due to "regional competition and the economic challenges created by the recession."
Last summer, an advisory commission appointed by Gov. Christie recommended creating a new, state-run tourism district in Atlantic City as part of an ongoing plan to revitalize the area's tourism industry. Several months later, in October 2010, the governor announced that Atlantic City had agreed to state oversight of its finances, at which point the Casino Association of New Jersey announced the formation of the Atlantic City Alliance, representing a private sector commitment to devote $30 million or more annually to promoting Atlantic City as a destination resort.
Legislation to create the proposed Atlantic City Tourism District and to modernize regulation of gaming in New Jersey is still pending in the state legislature.