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New Jersey governor, lawmakers to review sports, gaming, entertainment authorities, facilities
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New Jersey Gov. Chris Christie announces that Jon F. Hanson, right, will head a seven-member commission to review the way gaming, sports and entertainment are overseen in New Jersey Wednesday, Feb. 3, 2010, in Trenton, N.J.
TRENTON, N.J. (AP) — Gov. Chris Christie created a seven-member commission Wednesday to find ways to fix New Jersey's troubled gaming, sports and entertainment industries.
Under an executive order by Christie, the New Jersey Gaming, Sports and Entertainment Advisory Commission must deliver its recommendations to the governor by June 30 — the end of the fiscal year.
In announcing the commission, Christie said the industries have significant problems and a major impact on the state's economy.
The panel will examine what to do with the New Jersey Sports and Exposition Authority, the Meadowlands and Xanadu retail and entertainment complex and the state's horse racing industry. Christie also wants suggestions on how to promote Atlantic City as a resort destination.
"The bottom line for success is to exploit to the greatest degree possible the assets that New Jersey has in order to benefit the taxpayers and the citizens of the state," Christie said. "I don't think anyone could argue at the moment that that's not happening."
Christie noted the NJSEA's $38 million deficit for 2010, how the state had already spent $160 million in rent prepayments at Xanadu, a horse racing industry projected to lose $22 million this year and continual declining revenue at Atlantic City casinos, which last month posted their worst financial returns since 1997.
Meanwhile, lawmakers will also undertake their own examination of the NJSEA, starting with a Feb. 25 hearing.
In announcing the commission, Christie said the industries have significant problems and a major impact on the state's economy.
The panel will examine what to do with the New Jersey Sports and Exposition Authority, the Meadowlands and Xanadu retail and entertainment complex and the state's horse racing industry. Christie also wants suggestions on how to promote Atlantic City as a resort destination.
"The bottom line for success is to exploit to the greatest degree possible the assets that New Jersey has in order to benefit the taxpayers and the citizens of the state," Christie said. "I don't think anyone could argue at the moment that that's not happening."
Christie noted the NJSEA's $38 million deficit for 2010, how the state had already spent $160 million in rent prepayments at Xanadu, a horse racing industry projected to lose $22 million this year and continual declining revenue at Atlantic City casinos, which last month posted their worst financial returns since 1997.
Meanwhile, lawmakers will also undertake their own examination of the NJSEA, starting with a Feb. 25 hearing.
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