Chris Brown is an Assemblyman in the state of New Jersey who is not happy with the actions of casinos in the state. Caesars Entertainment is planning on closing the Showboat Casino, which is a profitable facility in the state. Brown is planning on creating a legislative proposal that will restrict the actions of casinos, especially when it comes to closing properties that are functioning well.
The legislation would include language that will preclude any company from operating over two casinos in New Jersey. A company that chooses to sell a casino property will not be able to include language in the sale which says the new owner cannot reopen as a casino. Casinos will also have to pay the state back for incentives they may have received when opening, if they choose to close.
The Showboat will be closing on the last day of August even though the casino is earning a profit. Over 2,000 employees will need to find a job and this is a problem for Brown. It would be a different story if the casino was struggling but the Showboat was not. Brown wants to stand up for the middle class and keep the casinos from doing what they want without consequence for their actions.
With the proposal by Brown, it would keep the gaming industry from relying on one company to bring in revenues. Many will argue that the industry is already dependent on the Caesars Company since they have around 30% of the industry even if the Showboat casino closes. With this impending closure, and the recent closure of the Atlantic Club, Atlantic City now offers only 10 casinos for brick and mortar game play.
Representatives of Caesars has stated that there are no restrictions to be placed on the new owners of the Showboat for offering casino gaming.