2006 July 05 Gambling News, Events and Happenings - Page 4

New Jersey’s 12 casinos closed on Wednesday due to a shutdown of state government ordered by Gov. Jon Corzine over a budget impasse.

Two years after slot machine gambling was legalized in Pennsylvania and a year after determining what regulations to use, state regulators made a bit of progress last month toward the creation of six racetrack/casinos.

July 5 (Bloomberg) — Shares of casino companies including Trump Entertainment Resorts Inc. fell after Atlantic City’s casinos shut down for the first time in their 28-year history today, casualties of a budget impasse in New Jersey.

Atlantic City’s 12 casinos have to shut their doors because of a stalemate over the New Jersey state budget.

The Wisconsin Supreme Court has a dozen cases to settle before its current term ends including one that could stamp-out much of the state’s casino gambling.

Facing the fact that some members of the House have been repeatedly trying to block online gambling operations, lobbyists for this fertile Internet casino and poker room industry are fighting opposition on Capitol Hill.

New Jersey Gov. Jon Corzine said on Wednesday he had no authority to exempt casino regulators from a shutdown of state services due to a budget crisis which has forced Atlantic City casinos to close.

New Jersey’s casinos closed their doors and ushered out gamblers Wednesday morning as New Jersey’s government shutdown dragged into its fifth day.

Atlantic City casinos shut down on Wednesday to meet a morning deadline to do so after New Jersey lawmakers failed to resolve an impasse on the state’s budget, and the closing could cost millions of dollars in lost revenue and taxes.