After New Jersey legislature and the state's Governor Chris Christie didn't manage to adopt the budget on time, Atlantic City casinos were on a brink of a state government shutdown.
Luckily, the shutdown was avoided after both branches of the state government successfully reconciled their differences.
It seems the Garden State's legislators don't want to take any more chances and risk a possible Atlantic City casinos shutdown in the future. The solution to this problem, which can have serious economic consequences, is about to be introduced.
Preventing a Future Shutdown
According to The Press of Atlantic City, Steve Sweeney, the president of New Jersey Senate, and senators Jim Whelan and Jeff Van Drew are preparing a new bill, which will amend the current ‘seven-day law'.
The law got its name because it allowed New Jersey's casinos to remain open for seven days after the state government shutdown. On the other side, the new bill will allow all casinos in the state to stay open indefinitely.
Senator Whelan said the casinos were the driving force for the economy, not only in the city, but for the entire region. According to him, Atlantic City was turning around, and to allow the casinos to get closed would be a destructive blow for the casino workers and their families. Whelan added the economic riptide would have negative consequences on a state level.
However, there are those among the lawmakers who question the necessity of the bill, while the reason for such a stance is the fact the shutdown doesn't effect so called essential employees. This term refers to the employees at the Casino Control Commission, who acquired this status via an executive order, signed by the Governor himself in 2010.
Taj Mahal Liquidation Continues
And while the state's lawmakers debate over the new bill, National Content Liquidators has started auctioning the inventory of Trump Taj Mahal Casino Resort, once owned by current United States President Donald Trump.
Chandeliers, sofas, coffee tables, televisions, beds, and even a grand piano were offered on the auction which started on Thursday. The auction will be held until all the items in the inventory are sold.
Trump Taj Mahal Casino Resort was opened back 1990 and was worth a staggering $1 billion, but soon filed for bankruptcy. It was bought by Carl Icahn, investor and business magnate, who closed the casino on October 10, 2016. In March, the casino was sold to Hard Rock International for around $50 million.