>> THIS WEEK ON "NJ BUSINESS BEAT," THE CLOCK IS TICKING IN TRENTON AS LAWMAKERS TRY TO PUSH THROUGH BILLS ON TAXES, CANNABIS AND SMALL BUSINESS SUPPORT.

PLUS -- >> WE'RE NOT COMPENSATED IN A WAY THAT'S ADEQUATE AND THAT REFLECTS ALL OF THE VARIOUS THINGS THAT WE DO.

>> RUTGERS UNION EMPLOYEES WORKING WITHOUT A CONTRACT CALL FOR BETTER CONDITIONS AND PAY AND WE MARK 45 YEARS OF LEGAL GAMBLING BY PUTTING THE CASINO INDUSTRY IN FOCUS, HIGHLIGHTING THE PAST, PRESENT AND FUTURE FOR GAMING IN ATLANTIC CITY.

THAT'S AHEAD ON "NJ BUSINESS BEAT."

♪ ♪ ♪ >>> THIS IS "NJ BUSINESS BEAT" WITH RHONDA SCHAFFLER.

>>> HELLO.

I'M RHONDA SCHAFFLER.

THANKS FOR JOINING ME ON "NJ BUSINESS BEAT."

HARD TO BELIEVE, BUT THIS YEAR IS WINDING DOWN AND IN TRENTON, THAT MEANS A FLURRY OF ACTIVITY IN THE LEGISLATURE AS LAWMAKERS TRY TO ADVANCE BILLS BEFORE THEIR HOLIDAY BREAK AND THE START OF A NEW YEAR, AND ONE OF THOSE BILLS COULD IMPACT YOUR TAX PAYMENTS.

NEW JERSEY RESIDENTS WHO WORK IN NEW YORK HAVE LONG PAID TAXES TO ALBANY WITH TRENTON PROVIDING TAX CREDITS TO OFFSET THE PAYMENTS AND THEN THE PANDEMIC CAME ALONG AND NEW JERSEY WORKERS CAME FROM COMMUTING INTO THE CITY TO WORKING ON THE DINING ROOM TABLE, BUT THROUGH ALL THAT THEY WERE STILL PAYING TAXES TO NEW YORK SO LAWMAKERS BEGAN PUTTING AN IDEA BACK TO NEW JERSEY.

THIS WEEK, THE SENATE BUDGET COMMITTEE PASSED LEGISLATION TO LEVEL THE PLAYING FIELD, WITH THE PRIMARY SPONSOR SENATOR JOHN BRAMNICK SAYING THE BILL SENDS A MESSAGE TO NEW YORK THAT WE'RE DONE PLAYING BY THEIR RULES.

TO LEARN MORE ABOUT THE BILL, I SPOKE WITH NJ SPOTLIGHT'S BUDGET ANY FINANCE WRITER JOHN WRIGHTMEYER.

JOHN, GREAT TO SEE YOU ON "NJ BUSINESS BEAT".

>> THANK YOU FOR HAVING ME.

>> WE'VE HAD AN INTERSTATE TAX BATTLE THAT HAS BEEN BREWING, BUT NOW THERE IS AN EFFORT.

NEW JERSEY WANTS SOME OF ITS MONEY BACK.

TELL US ABOUT THE BILL THAT IS MOVING THROUGH THE LEGISLATURE RIGHT NOW.

>> THAT'S RIGHT, RHONDA.

IT REALLY GOES ABOUT THIS ISSUE IN THREE DIFFERENT WAYS.

THE FIRST IS OFFERING TAX CREDITS TO BUSINESSES SO THEY COULD CREATE LOCATION IN NEW JERSEY SO RIGHT NOW, RESIDENTS OF NEW JERSEY SAY WHO WORK FOR COMPANIES BASED IN NEW YORK, BUT ARE WORKING FROM HOME BECAUSE OF THE WAY NEW YORK'S TAX LAWS ARE WRITTEN ARE STILL HAVING THEIR WITHHOLDING TAKEN OUT BY NEW YORK AND SO THAT REVENUE GOES TO ALBANY.

IN THIS CASE, THE COMPANY THAT'S BASED IN NEW YORK WOULD OPEN A NEW LOCATION HERE IN NEW JERSEY WITH THE INCENTIVE OF THE NEW TAX CREDIT THAT'S ENVISIONED BY THIS LEGISLATION AND SO THAT WOULD ALLOW THOSE WORKERS WHO WORK FOR THE COMPANY TO PAY FOR THE INCOME TAXES IN NEW JERSEY WITH THAT REVENUE GOING TO TRENTON.

THERE'S ANOTHER WAY THAT THIS LEGISLATION GOES ABOUT THIS ISSUE AND THAT'S OFFERING TAX CREDITS TO INDIVIDUALS WHO ARE WILLING TO BASICALLY SUE A STATE LIKE NEW YORK TO SAY WE DISAGREE WITH THE WAY THAT YOU ARE TAXING US WHEN WE WORK FROM HOME IN NEW JERSEY AND THE LAST PLAY IS IT WILL CREATE A CONVENIENCE LAW IN NEW JERSEY, BUT ONLY FOR THE STATES THAT HAVE CONVENIENCE LAWS ON THEIR BOOKS AND SO IT WOULD KIND OF FIGHT FIRE WITH FIRE IN THE SENSE THAT NEW JERSEY THEN WOULD BE ABLE TO INSTRUCT BUSINESSES TO WITHHOLD FOR INDIVIDUALS WHO MAY LIVE IN ANOTHER STATE LIKE NEW YORK, BUT HAVE THEIR COMPANIES BASED IN NEW JERSEY, AND SO THAT'S THE MAIN THRUST OF HOW THIS BILL WOULD WORK AT THE BUSINESS LEVEL AND AT THE INDIVIDUAL LEVEL AND RE-WRITING THE TAX LAW.

>> JOHN, POTENTIALLY, THIS COULD MEAN A LOT MORE REVENUE FOR NEW JERSEY IF THIS ACTUALLY BECOMES LAW.

HOW MUCH MONEY IS KIND OF LEFT OUT THERE THAT THE STATE DOESN'T GET, THAT TRENTON CAN GET?

>> NEW YORK IS GOING TO HAVE THIS AGGRESSIVE POSTURE WHERE IT CONSIDERS INCOME EARNED BY SOMEONE WORKING IN NEW JERSEY, BUT FOR A COMPANY BASED IN NEW YORK.

IT PROVIDES A TAX CREDIT SO THE NEW JERSEY RESIDENT ISN'T DOUBLE TAXED AND THEY ESTIMATED A LITTLE OVER $1 BILLION WAS PAID OUT DURING THE PANDEMIC TO INDIVIDUALS IN NEW JERSEY WHO WERE WORKING FROM HOME, AND YOU ALSO HAVE TO REMEMBER IN NEW JERSEY THE INCOME TAX IS DEDICATED TO FUNDING PROPERTY TAX RELIEF AND AN AID TO LOCAL K THROUGH 12 SCHOOLS AND NOT ONLY WOULD THIS BE A GOOD PORTION OF MONEY THAT COULD BE SORT OF REPATRIATED TO NEW JERSEY'S COVERS, BUT IT FUNDS SOME OF THE TOP PRIORITIES THAT THE GOVERNMENT AND LAWMAKERS HAVE IDENTIFIED IN RECENT YEARS.

>> JOHN, GOOD TO TALK TO YOU AND GET AN UPDATE ON THIS.

THANKS.

>> YOU'RE WELCOME.

>> ALSO AT THE STATE HOUSE, LAWMAKERS WOULD HAVE A BILL THAT WOULD PROTECT FINANCIAL INSTITUTIONS AND INSURANCE COMPANIES DOING BUSINESS WITH LICENSED CANNABIS COMPANIES FROM BEING PENALIZED BY STATE REGULATORS.

THE MARIJUANA BANKING BILL WAS A MOVED BY THE ASSEMBLY FINANCIAL INSTITUTIONS AND INSURANCE COMMITTEE EARLIER THIS WEEK, BUT THE BILL ONLY OFFERS STATE-LEVEL PROTECTIONS AND THIS WEEK IN WASHINGTON, WAS THERE A SETBACK IN THE EFFORTS TO CHANGE FEDERAL REGULATIONS TO PERMIT BANKS TO PROVIDE SERVICES TO CANNABIS COMPANIES.

AS THE U.S. SENATE REJECTED A CANNABIS BANKING BILL.

BECAUSE OF HE'S REGULATIONS, CANNABIS COMPANIES FACE DIFFICULTIES IN GETTING FINANCING.

RUTGERS UNIVERSITY FACULTY MEMBERS AND SUPPORTERS HELD RALLIES THIS WEEK TO DEMAND NEW UNION CONTRACTS.

THEY'VE BEEN WORKING WITHOUT A CONTRACT SINCE THE END OF JUNE.

RUTGERS CONTINUES TO NEGOTIATE IN GOOD FAITH AND ON A REGULAR BASIS WITH UNION LEADERS, BUT REBECCA GIVEN, THE PRESIDENT OF RUTGERS AAUP AFT SAYS MEMBERS ARE FRUSTRATED THAT THE ADMINISTRATION ISN'T ADDRESSING THE UNION'S REQUEST FOR A HIGHER PAY AND BETTER WORKING CONDITIONS.

>> OUR MEMBERS HAVE BEEN WORKING HARD.

WE DO EVERYTHING AT THIS UNIVERSITY.

WE'RE THE HEART AND SOUL.

WE CARRY OUT THE MISSION OF THIS UNIVERSITY.

WE'RE WORKING WITHOUT A CONTRACT.

MANY OF OUR WORKERS DON'T MAKE A LIVING WAGE.

OUR ADJUNCT FACULTY ARE PAID FAR LESS FOR DOING THE SAME WORK THAN OUR FULL-TIME FACULTY AND WE HAVE A WIDESPREAD PROBLEM OF CONTINGENCY WHERE FACULTY ARE ON INSECURE CONTRACTS AND OUR WORKING CONDITIONS ARE DETERIORATING AND FACULTY FEEL DEMORALIZED AND FED UP.

>> THE OPENING OF NEWARK AIRPORT'S FANCY NEW TERMINAL A HAS BEEN DELAYED UNTIL EARLY JANUARY.

THE RENOVATED TERMINAL WAS SUPPOSED TO OPEN THIS PAST WEEK, BUT IT'S TAKING MORE TIME THAN EXPECTED TO RECEIVE FINAL CERTIFICATIONS FOR THE FIRE AND ALARM SYSTEMS.

YOU MAY RECALL A FEW WEEKS BACK, GOVERNOR MURPHY AND THE FIRST LADY WERE ON HAND FOR A FORMAL RIBBON CUTTING CEREMONY HELD TO SHOW OFF THE $2.7 BILLION REFRESH OF TERMINAL A.

THE REVAMPED SPACE INCLUDES NEW DINING AND RETAIL OPTIONS INCLUDING SOME JERSEY RETAILERS AND IT'S DECORATED WITH ART WORK FROM LOCAL ARTISTS.

>> DURING THAT EVENT THE GOVERNOR SAID THE NEW TERMINAL WOULD GENERATE $4.6 BILLION IN ECONOMIC ACTIVITY FOR THE REGION.

>> 2022 MARKS THE 45th YEAR SINCE NEW JERSEY PASSED THE CASINO CONTROL ACT AND NEXT MAY, NEW JERSEY CASINOS WILL HIT A MILESTONE CELEBRATING 45 YEARS SINCE THE FIRST ONE OPENED IN THE GARDEN STATE.

THE GAMING INDUSTRY HAS PROVIDED A WINDFALL OF ANNUAL REVENUE FOR NEW JERSEY FOR DECADES NOW, BUT THE STORY OF CASINOS IN OUR STATE DOES NOT COME WITHOUT CONTROVERSY OR GROWING PAINS.

TO MARK THIS ANNIVERSARY, WE'RE PUTTING THE CASINO INDUSTRY PAST, PRESENT AND FUTURE IN FOCUS THIS WEEK.

IN 1976 VOTERS NARROWLY APPROVED A QUESTION ALLOWING ONLY IN ATLANTIC CITY.

ONE YEAR LATER LEGISLATION WAS ADOPTED TO CREATE THE GAMING INDUSTRY AS WELL AS THE CASINO REVENUE FUND WHICH WOULD PROVIDE THE STATE WITH BILLIONS IN TAXES AND FEES ANNUALLY.

MORE THAN 10 BILLION BY 2019, AND IN MAY 1978, THE FIRST LEGAL CASINOS OPENED THEIR DOORS IN A.C. CASINOS WOULD RECEIVE GRADUAL GROWTH IN THE DECADES WITH 12 MAJOR CASINOS CALLING ATLANTIC CITY HOME BY THE 1990s, BUT THE CITY WOULD FACE MAJOR STRUGGLES IN THE NEW MILLENNIUM.

FOUR CASINOS SHUTTERED IN 2014 SHOW BOAT, REVEL, TRUMP PLAZA AND THE ATLANTIC CLUB FOLLOWED BY THE TAJ MAHAL TWO YEARS LATER.

THIS LEFT THOUSANDS OF CASINO WORKERS JOBLESS, WITH THE UNEMPLOYMENT RATE DOUBLING IN 2014 AND IT LEFT THE CITY SCRAMBLING FOR A WAY TO REPLACE THE LOSS OF MILLIONS IN ANNUAL REVENUE, BUT A.C. HAS MADE A COMEBACK, DESPITE ANOTHER MAJOR CHALLENGE DURING THE PANDEMIC YEARS.

IN THE THIRD QUARTER OF THIS YEAR CASINOS EARNED $190 MILLION IN REVENUE.

FOR THE FIRST NINE MONTHS OF 2022 THAT NUMBER IS 2.9 MILLION, A 12% INCREASE YEAR OVER YEAR.

AND CASINOS WERE FORCED TO CLOSE EARLY IN THE PANDEMIC.

THE STATE SAYS THE NINE MAJOR CASINOS EMPLOY MORE THAN 23,000 WORKERS.

ATLANTIC CITY'S RESURGENCE WOULD NOT HAVE HAPPENED WITHOUT ONLINE GAMBLING COME HAS BECOME A HUGE REVENUE SOURCE ESPECIALLY WHEN CASINOS WERE FORCED TO CLOSE DURING THE PANDEMIC.

ACCORDING TO PLAY AND J, SINCE ITS INCEPTION IN 2013 CASINOS HAVE EARNED A COLLECTIVE $5.1 MILLION FROM ONLINE WAGERING, SLOTS AND TABLE GAMES AND LAWMAKERS ARE CURRENTLY IN THE PROCESS OF TRYING TO EXTEND LEGAL ONLINE GAMBLING UNTIL 2033.

WE WANTED TO TALK TO SOMEONE WHO HAS SEEN IT ALL WHEN IT COMES TO ATLANTIC CITY AND GAMING.

THAT MAN IS MICHAEL EPPS.

AN ATLANTIC CITY NATIVE WHO GREW UP AS THE CASINOS WERE EXPANDING AND EENTS ALLY SERVED AS HEAD OF THE CASINO COMMISSION.

WE TALKED ABOUT THE EARLY DAYS OF THE CASINO GAMBLING AND THE OPTIMISM IN THE CITY ABOUT THE POTENTIAL THIS NEW INDUSTRY WOULD BRING.

>> FIRST OF ALL, IT'S GREAT TO HAVE YOU ON THE SHOW AND I'M REALLY EXCITED TO HEAR ABOUT ATLANTIC CITY FROM YOUR PERSPECTIVE.

YOU ARE AN ATLANTIC CITY NATIVE.

YOU WERE QUITE YOUNG WHEN CASINO GAMBLING BEGAN, BUT STILL, IT WAS YOUR CITY AND YOU WATCHED IT HAPPEN.

BRING ME BACK TO THOSE DAYS WHAT PEOPLE WERE THINKING ABOUT AND TALKING ABOUT AS CASINO GAMBLING TOOK HOLD.

>> IT WAS AN OPPORTUNITY TO SEE THE QUEEN OF RESORTS GET ANOTHER SHOT AT RESURRECTING HERSELF.

WE HAD JUST COME THROUGH WHATEVER THE TRAVESTY WAS OF THE 64 DEMOCRATIC CONVENTION THAT WAS IN ATLANTIC CITY AND THAT WAS KIND OF WHAT PEOPLE MARK AS THE DOOMSDAY OF ATLANTIC CITY AND HER DEMISE, BUT JUST LIKE SHE DOES, SHE CHANGED HER UNIFORM AND GOT DRESSED AGAIN AND WAS READY TO RECEIVE HER GUESTS AS THIS GAMING REFERENDUM PASSED.

SO THAT'S KIND OF WHAT THE ENERGY WAS IN ATLANTIC CITY, AND IT'S ANOTHER SHOT AT REVIVING OUR CITY.

>> SO THEN WE SAW ADDITIONAL CASINOS.

THEY STARTED TO OPEN.

DID ATLANTIC CITY RESIDENTS FEEL LIKE THAT HOPE AND THAT PROMISE WAS BEING DELIVERED ON?

>> EVERYONE HOPED THAT THIS THING WAS GOING TO DELIVER AND DEVELOP THE TOWN IN WAYS THAT IT NEEDED TO BE DEVELOPED AND THE WAY THAT HAD MAYBE FALLEN ON HARD TIMES AND MAYBE SOME OF THAT ENERGY WHEN IT WAS A BOOMING TOURIST DESTINATION COULD COME BACK WITH THIS NEW CONCEPT OF CASINO GAMING, BUT IT WAS A SLOW BUILD.

IT WAS VERY MUCH A SLOW BUILD, AND I DON'T KNOW ALL OF THE EXPECTATIONS THAT THE LOCALS HAVE FROM THE BUSINESSES THAT ULTIMATELY OPENED AND DEVELOPED HERE WERE SATISFIED.

>> YOUR CAREER WAS INTERTWINED WITH ATLANTIC CITY.

YOU EVENTUALLY BECAME A REGULATOR.

HOW DID YOU GET TO THAT POSITION AND WHAT WERE SOME OF THE BIG ISSUES AND CONCERNS THAT WERE TOP OF MIND BACK THEN?

>> I GO TO LAW SCHOOL, AND I COME HOME AND I GET AN OPPORTUNITY WITH A COUPLE OF THE LOCAL LAW FIRMS, AND SO I STARTED MY LAW CAREER.

ULTIMATELY, I BECAME THE SOLICITOR FOR THE ATLANTIC CITY BOARD OF EDUCATION AND AT THAT POINT I WAS TAPPED BY THE ADMINISTRATION AT THE TIME TO SERVE ON THE CASINO CONTROL COMMISSION.

SO I WAS VERY EXCITED BECAUSE IT WAS AN OPPORTUNITY FOR ME TO SET ON THE REGULATORY BODY THAT IS THE -- THAT CONTROLS THE ENGINE OR AT LEAST GUIDES THE ENGINE THAT MAKES MY TOWN GO.

>> AS YOU LOOK AHEAD FOR ATLANTIC CITY, WHAT DO YOU THINK THE FUTURE OF THE INDUSTRY WILL BE.

DOES IT SEEM BRIGHTER NOW?

>> I THINK THE FUTURE IS BRIGHT FOR THE INDUSTRY, BUT I THINK IT'S SMALLER THAN IT WAS AT ONE POINT, AND THE PROBLEM IS THE INDUSTRY IN ATLANTIC CITY KIND OF BECAME A VICTIM OF ITS OWN SUCCESS.

SO WHAT HAPPENS IS OTHER JURISDICTIONS SAW ATLANTIC CITY AND THE SUCCESS THAT THE GAMING COMPANIES WERE HAVING, NOT THE CITY NECESSARILY IN PARTICULAR, BUT GAMING IN ATLANTIC CITY.

THEY SAW THE REVENUES THAT THEY WERE GENERATING AND WHAT THE GAMING HALLS WERE ABLE TO DO AND SOME OF THE TAX RETURNS THAT WERE ULTIMATELY PAYABLE TO THE STATES.

OTHER NEIGHBORING STATES SAID HEY, THAT'S A CONCEPT THAT WE SHOULD LOOK INTO.

>> IT'S BEEN SO GOOD TO TALK TO YOU TO HEAR ABOUT THE BACKGROUND OF ATLANTIC CITY AND THE ROLE YOU PLAYED IN IT.

THANK YOU FOR YOUR TIME.

>> THANK YOU FOR HAVING ME.

>> MANY HAD DREAMS OF CASHING IN WHEN GAMBLING BEGAN IN ATLANTIC CITY AND THERE WERE HIGH HOPES THAT THE CITY ITSELF WOULD SHARE IN THE PROSPERITY.

I SPOKE WITH DR. BRIAN SIMON, A HISTORY PROFESSOR AT TEMPLE UNIVERSITY AND AUTHOR OF THE BOOK, BOARDWALK OF DREAMS.

HE TOLD ME ABOUT SOME OF THE ATLANTIC CITY PERSONALITIES WHO TOOK A STROLL ALONG THAT BOARDWALK.

>> THANKS SO MUCH FOR JOINING ME TODAY.

GLAD TO BE HERE.

>> YOU SPEND A LOT OF TIME TALKING ABOUT THE HISTORY OF ATLANTIC CITY WHEN YOU WROTE YOUR BOOK, BOARDWALK OF DREAMS.

ATLANTIC CITY'S PAST AND ITS FUTURE PERHAPS WILL LOOK DIRNTS, B BUT THERE WAS A LOT THAT WOULD NOT COME TO ME.

>> THERE WAS A LOT OF HOPE WHEN CASINO GAMBLING CAME THROUGH ATLANTIC CITY AND PEOPLE DANCED IN THE STREET IN THE 1970s WHEN THE CASINO REFERENDUM PASSED AND MANY OF THEM BELIEVED THAT TOMORROW WAS UPON THE CITY OR PROBABLY MORE ACCURATELY, YESTERDAY WAS COMING BACK, AND BY YESTERDAY THEY MEANT WHEN ATLANTIC CITY WAS REALLY THE FOREMOST RESORT IN AMERICA.

SOME PEOPLE CONSIDERED DISNEYLAND BEFORE THERE WAS DISNEYLAND AND THE HOPE WAS THAT CASINO GAMBLING WOULD BRING THAT BACK AND THE TEAMING GROUNDS ON THE BOARDWALK AND THE PROFITS THAT PEOPLE COUNTED WHEN THOSE TEAMING CROWDS WENT TO BED EVERY NIGHT AND WHAT REALLY HAPPENED WAS SOME PEOPLE GOT TO COUNT THOSE PROFITS, BUT THEY WEREN'T VERY EVENLY DISTRIBUTED ACROSS TOWN.

>> TELL ME ABOUT SOME OF THE CHARACTERS THAT HELPED SHAPE THE CASINO BUSINESS IN ATLANTIC CITY.

IF YOU LOOK BACK AT THE HISTORY, WHO WERE THE NAMES THAT REALLY STICK OUT TO YOU THAT WERE PART OF THIS STORY THAT WAS UNFOLDING?

>> REESE PALEY HAD A DEGREE FROM THE LONDON SCHOOL OF ECONOMICS, HAD WRITTEN BOOKS.

HE SOLD THESE PORCELAIN BIRDS THAT PEOPLE CAME TO BUY AND IN FACT, RICHARD NIXON TOOK ONE OF THEM WHEN HE MET MAO IN THE 1970s AND BY THE TIME GAMBLING STARTED, PALEY OWNED THE HOTEL, THAT BEAUTIFUL EARLY 19 -- EARLY 20th CENTURY HOTEL THAT KIND OF LOOKED AND INVOKED KIND OF THE EAST AND ORIENTALISM AND MAYBE HE COULD TURN HIS HOTEL INTO A CASINO.

I REMEMBER HIM TELLING ME THAT HE SAT DOWN EARLY ON AFTER THE GAMING REFERENDUM PASSED AND IN SOME WAYS HE REALIZED HE WAS OVERMATCHED, THAT THEIR VISION FOR THE CITY WASN'T QUITE HIS.

>> IT'S INTERESTING, THOUGH, IN THE INTERVENING YEARS THERE WERE OTHERS WHO SAW THIS PROMISE OF ATLANTIC CITY.

MOST NOTABLY, A DEVELOPER NAMED DONALD TRUMP.

>> THE FACT THAT SOMEONE OF DONALD TRUMP'S FAME AND AMBITION WOULD CAST THEIR LOT WITH US, WOULD CAST THEIR LOT IN ATLANTIC CITY WAS REALLY IMPORTANT AND YOU KNOW, HE BROUGHT SOME OF THE SPLENDOR OF THE PAST BACK WITH HIM.

HE BROUGHT BIG-TIME BOXING BACK TO THE CITY.

HE BROUGHT PAGEANTLY BACK TO THE CITY AND IN BUILDING THE TAJ MAHAL HE BROUGHT BACK A KIND OF ARCHITECTURE THAT LOOKED OUTWARD AND WAS WHIMSICAL AND SAID HEY, THIS IS A FUN PLACE.

>> DO YOU FEEL THAT ATLANTIC CITY IS HAVING A REBIRTH AND PERHAPS SOME OF THE PROMISES OF URBAN REVIVALIZATION AND RENEWAL WILL COME TO FRUITION?

>> ATLANTIC'S BEEN A PLACE OF CONSTANT REBIRTH AND RENEWAL, AND I THINK, YOU KNOW, SOME OF THE POSSIBILITIES ARE THERE.

THE POSSIBILITIES BUILD AROUND STOCKTON UNIVERSITY ARRIVING IN THE CITY, BUILT AROUND THE EXPANSION OF THE MEDICAL CENTER AND BUILT AROUND THE WALK AND BUILT AROUND THE INDIVIDUAL INITIATIVES OF PEOPLE EVERY DAY, AND I WOULD HOPE THAT WE WOULD GET THE HIGH-SPEED RAIL IN PHILADELPHIA.

>> PROFESSOR, THANK YOU SO MUCH FOR YOUR TIME AND THOUGHTS OF ATLANTIC CITY.

I APPRECIATE IT.

>> YOU'RE WELCOME.

NICE TO BE HERE.

>> THE CASINO INDUSTRY IS CLOSELY WATCHED BY STOCKTON INDUSTRY BY THE LLOYD D. ANDERSON INSTATE OF GAMING, HOSPITALITY AND TOURISM.

TO GET A PULSE ON HOW CASINOS ARE DOING AS WE HEAD INTO NEXT YEAR, ESPECIALLY WITH MORE COMPETITION ON THE HORIZON.

I SPOKE WITH JANE BAGONEVIC WITH THE INSTITUTE.

>> IT'S GOOD TO HAVE YOU ON "NJ BUSINESS BEAT".

>> THANK YOU.

IT'S GOOD TO BE HERE.

>> ATLANTIC CITY CASINOS HAVE GONE THROUGH A LOT DURING COVID.

HOW ARE THE CASINOS FARING AS WE HEAD INTO 2023.

I THINK THEY'RE IN AN INTERESTING POSITION AS WE HEAD INTO 2023.

FOR YEAR TO DATE THE CASINO INDUSTRY IS LOOKING VERY STRONG.

THE REVENUE AND PROFIT MARGINS HAVE SURPASSED BOTH 2021 AND PRE-PANDEMIC 2019.

>> WHEN YOU LOOK AT ATLANTIC CITY AS A WHOLE, WE KNOW THAT THERE ARE HAVES AND HAVE NOTES AND SOME OF THE CASINOS ARE FARING BETTER.

A TOPIC THAT HAS COME UP OFTENTIMES IS ARE THERE TOO MANY CASINOS IN ATLANTIC CITY?

WHAT'S YOUR THOUGHT ON THAT?

>> AS CASINOS RENOVATE AND IMPROVE THEIR PRODUCT, THEY'VE BEEN SEEING IMPROVEMENTS IN THEIR RESULTS.

BALLY'S IS A GOOD EXAMPLE OF THAT.

THEY RECENTLY DID RENOVATIONS AND THEY'RE FINALLY STARTING TO SEE SOME OF THE INCREASED RESULTS BECAUSE OF THAT, AND ALL OF THE CASINOS, NONE OF THEM SEEM TO BE IN ANY FINANCIAL TROUBLE AT THIS STAGE ALTHOUGH SOME ARE DOING BETTER THAN OTHERS.

I THINK THEY LEARNED HOW TO RIGHT SIZE SO WHEN THE REVENUES ARE DOWN AND THEY REDUCE THE EXPENSES TO MEET THAT CHALLENGE AND ALL OF THEM APPEAR TO BE IN A STABLE CONDITION.

>> WHAT DO YOU THINK THEY'LL DO IN TERMS OF TRYING TO BRING IN REVENUE FROM IN-PERSON GAMING VERSUS INTERNET GAMBLING?

THEY MAKE MORE WHEN PEOPLE ARE THERE IN PERSON.

SO HOW WILL THAT MOVE FORWARD, DO YOU THINK IN 2023 IN TERMS OF WHICH TO PRIORITIZE?

>> THERE'S NO SUBSTITUTE FOR THE IN-PERSON GAMING BECAUSE THE PEOPLE THAT COME IN TO PLAY IN THE CASINOS WILL ALSO SPEND MONEY IN THE HOTEL, AND IN THE RESTAURANTS AND OTHER ENTERTAINMENT OPTIONS.

SO AS I SAID, THE STAR OF THE YEAR SEEMS TO BE MEETINGS AND CONVENTIONS.

SO ATLANTIC CITY IS REALLY PUSHING ON BRINGING IN NEW GROUPS TO THE CITY EVEN WITH FAMILY-STYLE GROUPS LIKE SPORTS TEAMS, YOUTH SPORTS, CHEERLEADING COMPETITIONS AND THINGS LIKE THAT.

THOSE GROUPS BRING A LOT OF NON-GAMING REVENUE INTO THE CITY, AND WITH THE DEVELOPMENT OF SOME FAMILY ATTRACTIONS LIKE THE WATER PARK AT SHOW BOAT, FOR EXAMPLE, THAT'S GOING TO MAKE THOSE TYPES OF GROUPS EVEN MORE ATTRACTIVE TO ATLANTIC CITY.

>> HOW IS ATLANTIC CITY DOING IN TERMS OF FENDING OFF COMPETITION FROM OTHER AREAS?

OVER THE YEARS, WE'VE SEEN SO MANY STATES ADD GAMBLING, BUT ATLANTIC CITY, IS IT HOLDING ITS OWN?

>> ATLANTIC CITY IS STILL A VERY ATTRACTIVE DESTINATION BECAUSE OF THE OCEAN, THE BOARD WALK AND ALL OF THE THINGS THAT MAKE THE SHORE SO WONDERFUL.

SO IT'S REALLY TRYING TO -- IT HAS STAYED COMPETITIVE AS OTHER JURISDICTIONS OPENED.

MAYBE THERE WAS AN INITIAL DOWNTURN IN REVENUE, BUT IT'S ALWAYS RECOVERED AND LOOKING TOWARDS THE FUTURE, IT MAY BE A CHALLENGE, BUT ATLANTIC CITY WILL FIND A WAY TO OVERCOME THAT CHALLENGE.

>> JANE, IT'S BEEN A PLEASURE SPEAKING WITH YOU, AS ALWAYS.

THANK YOU FOR YOUR TIME.

>> THANK YOU FOR HAVING ME.

>> THE CASINOS ARE HIRING.

THEY NEED DEALERS FOR TABLE GAMES, SO IF YOU'VE EVER THOUGHT ABOUT PLAYING BLACK JACK FOR A LIVING NOW MIGHT BE THE TIME TO MAKE YOUR MOVE.

A NEW CASINO DEALERS SCHOOL RECENTLY OPENED AT THE T-BIRD TRAINING CENTER IN PLEASANTVILLE RIGHT OUTSIDE OF ATLANTIC CITY.

FROM POKER TO BLACK JACK TO CRAPS, YOU CAN LEARN IT ALL THERE.

I SPOKE TO THE CEO TRINA BYRD AND ITS DIRECTOR ANGEL JONES ABOUT HOW THE PANDEMIC HELPED TO GET THIS SCHOOL OFF THE GROUND.

>> TRINA, ANGEL, WELCOME TO "NJ BUSINESS BEAT."

IT'S GOOD TO SEE YOU BOTH.

>> TRINA, LET ME START WITH YOU.

WHY DID YOU DECIDE THAT IT WAS THE PERFECT TIMING TO HAVE A CASINO DEALERS SCHOOL?

>> WELL, IT ACTUALLY DERIVEDED FROM THE PANDEMIC.

WHEN THE PANDEMIC HIT OBVIOUSLY EVERYONE WAS CLOSING UP THEIR SHOPS, AND I AM A COMPUTER TRAINING CENTER, AS WELL, AND WE MOVED EVERYTHING OVER TO THE VIRTUAL WORLD, AND THE BUILDING ENDED UP BEING VACANT FOR ABOUT A YEAR AND A HALF, AND ANGEL, WHICH I KNOW FOR SEVERAL YEARS CAME TO ME WITH THE IDEA OF BRINGING BACK IN-PERSON TRAINING AND SHE WANTED TO EXPAND THE CASINO TABLE GAMES BECAUSE NO SCHOOLS EXISTED ON THE STATE APPROVAL LEVEL, AND I THOUGHT IT WAS A GREAT IDEA.

I TRUSTED HER AND HERE WE ARE.

>> LET ME GO OVER TO YOU, THEN.

WHAT DID YOU SEE IN THE MARKET THAT MADE YOU THINK THIS DEALERS SCHOOL IN-PERSON SHOULD OPEN AND WHAT HAS THE RESPONSE BEEN?

>> WHEN I SPOKE TO DIFFERENT CASINO MANAGERS THEY WERE SAYING THEY'RE GETTING REALLY BAD DEALERS BECAUSE OF THE TRAINING THAT THEY'RE DOING AT HOME, SO THIS WAS AN AWESOME IDEA TO WORK WITH MISS TRINA AND WORK WITH MY OWN SCHOOL SO THAT WE CAN TRAIN PEOPLE AND IT'S BEEN A PHENOMENAL SUCCESS SO FAR.

>> TRINA, WHAT ARE YOUR EXPECTATIONS NOW FOR THE BUSINESS?

>> WE ARE ALSO IMPLEMENTING A CASINO PROFESSIONAL SKILLS COMPONENT SO THEY'RE NOT ONLY EFFICIENT AT THE GAME, BUT THEY'LL BE GREAT IN TERMS OF THE GUEST SERVICES PORTION THAT IS REQUIRED OF ALL DEALERS AND QUITE FRANKLY, FOR ALL INDUSTRIES.

THE CASINOS HAVE OVER 150 POSITIONS AVAILABLE FOR TABLE GAMES, ALL CASINOS ACROSS THE BOARD.

THEY ARE VERY ACTIVE WITH ANGEL AND MYSELF TRYING TO GET THESE PEOPLE IN THE TRAINING PROGRAMS SO THAT THEY CAN GET THEM READY AND CERTIFIED BY THE TIME THIS SEASON COMES BACK UP IN APRIL AND MAY.

>> THANK YOU SO MUCH FOR YOUR TIME TODAY.

>> THANK YOU FOR HAVING US.

>> THANK YOU.

>> IN THE FUTURE, ATLANTIC CITY MAY BE HOME TO MORE THAN JUST THE CASINO INDUSTRY.

THIS FALL AN E-SPORTS INNOVATION CENTER OPENED IN STOCKTON.

E-SPORTS IS EMPLOY COETMPETITIV GAMING AND TALKS ABOUT HOW THEY CAN GET ONBOARD.

THE HOUSING DEVELOPMENT AUTHORITY'S TIM SULLIVAN CALLED THE NEW CENTER THE NEWEST ADDITION TO ATLANTIC CITY'S RESURGENCE WHICH IS BRINGING JOBS AND INVESTMENTS TO THE CITY.

ALSO ON HAND FOR THE CENTER'S OPENING WAS ARI FOX, THE FOUNDER OF CASINO E-SPORTS CONFERENCE.

HE SAYS E-SPORTS ARE GOING TO BE THE NEXT BIG THING.

>> YOUNGER PEOPLE ARE TENDING TO BE MORE INTERACTIVE BY WATCHING VIDEO GAMING COMPETITIONS OR PLAYING IN VIDEO GAMING COMPETITIONS AND THERE'S A LARGE OPPORTUNITY FOR THE GAMBLING INDUSTRY.

>> THAT DOES IT FOR US THIS WEEK.

REMEMBER TO SUBSCRIBE TO OUR NJ SPOTLIGHT NEWS YOUTUBE CHANNEL TO GET ALERTED WHEN WE POST NEW EPISODES AND CLIPS.

NEXT WEEK ON "NJ BUSINESS BEAT."

WE LOOK AHEAD TO 2023, FINDING OUT WHAT THE NEW YEAR WILL BRING TO OUR ECONOMY AND NEW JERSEY'S BUSINESS COMMUNITY.

THANKS AGAIN FOR WATCHING AND YOU ENJOY THE REST OF YOUR ♪ ♪ ♪ ♪ ♪