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Re: A casino in Jersey City? Venture capitalist wants to make it happen
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Quote:

SteveWilson29 wrote:
Where exactly would a 100, 000 person stadium plus parking go? There's no room down there.


One would assume they have an idea of where they are putting things but it is a good question. If you took the whole area just south of the park I think you could fit a speedway but then there wouldn't be much room for a casino. I suppose the footprint of the building doesn't need to be that large and I would guess they mostly just want to punt on parking and say take mass transit, which would obviously not work with that many people.

Posted on: 2014/7/9 16:26
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Re: A casino in Jersey City? Venture capitalist wants to make it happen
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Monroe wrote:
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greenville wrote:
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fat-ass-bike wrote:
If this were to occur, it would be a disaster to low income families and individuals. Just like fast food chains, casinos also predatory target a select socioeconomic group as their 'bread and butter' clientele. It would be a huge step backwards that would have repercussions for generations



Exactly, this will not help the community just make a rich guy richer.


Casinos require thousands of employees. What's the unemployment rate in Greenville?


This is literally in my back yard, my house is off Garfiled. I have mixed feelings, the employment part appeals to me big time. I think for males in Greenville 18-24 the rate is about 40% so this would do wonders. However this sounds like chaos in my backyard.

Posted on: 2014/7/9 16:18
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Re: A casino in Jersey City? Venture capitalist wants to make it happen
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SteveWilson29 wrote:
Where exactly would a 100, 000 person stadium plus parking go? There's no room down there.


People do not like logic here, but you raise an important question.

Posted on: 2014/7/9 16:15
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Re: A casino in Jersey City? Venture capitalist wants to make it happen
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@JCMan8 - I think it's going to revolve around what's the attraction? Is it the casino - or the hotel, racetrack, conferences and events? Is it being marketed to locals, or NYC tourists? Is it upscale, or will it be full of slots to appeal to the blue-rinse brigade? Will a portion of revenues be set aside to tackle the problems of gambling addiction and increased policing in JC?

Low-income families with a gambling addiction already spend a lot of their disposable income on lottery tickets - and at least in a casino the odds of winning are astronomically better. So I'm not convinced the world will end and skies will fall if we allow a casino in JC.

How about making the renewal of the casino license dependent on level of crime? Like if local crime rises 10%, they have to pay for 10% additional JCPD staffing levels. There are ways of building in incentives and controls to make this work.

Posted on: 2014/7/9 16:15
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Re: A casino in Jersey City? Venture capitalist wants to make it happen
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Where exactly would a 100, 000 person stadium plus parking go? There's no room down there.

Posted on: 2014/7/9 16:05
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Re: A casino in Jersey City? Venture capitalist wants to make it happen
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DTJCview, I agree that a level headed approach is in order. The first thing I see is supporters are talking out of both sides of their mouth re: location. You try to compare this to a casino in CT and say crime may not rise given this proposed development's "remote location."

But I thought the entire reason for building here is the proximity to NYC. Doesn't sound very remote to me...

Now, did you look at the comments to the article you posted? They detail how misleading it is. Among other things, the national crime rate dipped far more than the vicinity of the casino.

Further, let's take your article at face value. It only discusses one casino in one remote location. Whereas the national evidence of casinos around the country detail just how detrimental they are to the surrounding community.

Studies: Casinos bring jobs, but also crime, bankruptcy, and even suicide

Quote:
Melissa Kearney, an economist at the University of Maryland, released a literature review in 2005 summarizing work on gambling done to date. A study by Maryland's William Evans and Julie Topoleski that focused on Indian casinos found that they created a significant number of jobs. The ratio of jobs available to adults increased, on average, by 5 percent. This in turn lead to a 2 percent decline in mortality, as residents' economic conditions improved.

But the casinos also lead to a plethora of social ills, including increased substance abuse, mental illness and suicide, violent crime, auto theft and larceny, and bankruptcy. The latter three all increased by 10 percent in communities that allowed gambling.


http://m.washingtonpost.com/blogs/won ... kruptcy-and-even-suicide/

I think that is the balanced look at the issue. An increase in jobs and revenue but a spike in crime, mental illnesses, and bankruptcy. Not to mention the noise associated with a racetrack. Not something I want in my backyard.

Posted on: 2014/7/9 15:43
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Re: A casino in Jersey City? Venture capitalist wants to make it happen
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Sounds like this.
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vs.
Actually looks like this.
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Posted on: 2014/7/9 15:34
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Re: A casino in Jersey City? Venture capitalist wants to make it happen
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JCMan8 wrote:
...
Have you seen the rollout of the bike lanes? JC can't even get that right, and it's infinitely simpler than this project.

This is not meant to benefit JC. It's meant to enrich the Venture Capitalist, his firm, and a handful of other powerful, connected people.


JC didn't get $5 Billion of private capital for the bike lanes. And the backers of this project have already shown they can deliver.

JC and NJ will benefit directly from jobs and income taxes, hotel occupancy taxes, gaming licenses and taxes, PILOTS/property taxes on residences - as well as a bump in City marketing and tourism.

As far as crime goes - the experience in Connecticut showed a decrease after their casinos were built given their remote location. The proposed JC racetrack and casino are equally remote and will likely be gated and self-contained - I can't imagine too many hookers and drug-dealers selling their wares on Caven Point road.

Quote:

http://www.masslive.com/talk/index.ss ... l_around_connecticut.html

Connecticut may have escaped the adverse effects of the casinos because of their remote location and the fact that the state's casinos are destinations rather than gambling strips within a town or city, Lanza said.

"It's something of an obstacle to it spilling into the community," Lanza said. "The results were kind of surprising."


Crime, noise, gambling, etc are all valid concerns. But let's have a serious look at the proposal and weigh the pros and cons.

Posted on: 2014/7/9 15:27
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Re: A casino in Jersey City? Venture capitalist wants to make it happen
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What you think you are getting.
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vs.

What you actually get. Resized Image

Posted on: 2014/7/9 15:26
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Re: A casino in Jersey City? Venture capitalist wants to make it happen
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Of course I, and most on here, immediately thought of Xanadu - even before reading the article. But because he already built and owns the golf course, I tend to think Fireman is not likely to start the project without finishing it (which, in today's gambling climate, where we're seeing Atlantic City faltering, is at least a significant concern). I'm postulating, but it sounds like he's going to attempt to build it as a more upscale environment - more Monaco than Vegas. I wouldn't even be surprised if the racetrack was built in Grand Prix fashion, for both auto and MotoGP races - especially considering how few tracks there are here in the states. I wouldn't think a Nascar loop would attract the same clientelle he aims for with the golf course.

Posted on: 2014/7/9 15:13
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Re: A casino in Jersey City? Venture capitalist wants to make it happen
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dtjcview wrote:

That's where done right plays into it.

...

I get the objections to noise and a casino - but it's worth keeping an open mind given the possible benefits to JC.


Have you seen the rollout of the bike lanes? JC can't even get that right, and it's infinitely simpler than this project.

This is not meant to benefit JC. It's meant to enrich the Venture Capitalist, his firm, and a handful of other powerful, connected people.

Posted on: 2014/7/9 15:03
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Re: A casino in Jersey City? Venture capitalist wants to make it happen
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This project will attract traffic, noise, and scumbags. I bet crime will rise once the casino is built, as I believe this usually happens next to casinos. Our quality of life will plummet next to a loud racetrack.

My only hope is that the NJ voters reject a constitutional amendment to build casinos outside of AC. Given the rampant bribery going on (aka "contributions"), which is par for the course, I don't trust our politicians to protect us for one second.

Posted on: 2014/7/9 14:54
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Re: A casino in Jersey City? Venture capitalist wants to make it happen
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Quote:

fat-ass-bike wrote:
If this were to occur, it would be a disaster to low income families and individuals. Just like fast food chains, casinos also predatory target a select socioeconomic group as their 'bread and butter' clientele. It would be a huge step backwards that would have repercussions for generations



Exactly, this will not help the community just make a rich guy richer.


Casinos require thousands of employees. What's the unemployment rate in Greenville?

Posted on: 2014/7/9 14:38
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Re: A casino in Jersey City? Venture capitalist wants to make it happen
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fat-ass-bike wrote:
If this were to occur, it would be a disaster to low income families and individuals. Just like fast food chains, casinos also predatory target a select socioeconomic group as their 'bread and butter' clientele. It would be a huge step backwards that would have repercussions for generations



Exactly, this will not help the community just make a rich guy richer.

Posted on: 2014/7/9 14:15
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Re: A casino in Jersey City? Venture capitalist wants to make it happen
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brewster wrote:
What's with the ferris wheels, first the aborted plan for Staten Island, now this. Somebody who builds ferris wheels must be donating BIG!

The expansion of gambling in the last 30 years is horrifying, a cynically grown regressive tax on the poor. The hardcore always knew where to find the "numbers", a poker game or how to get to Vegas or AC. Now it's in everyone's faces. I think lotteries and casino gambling should be as legal, and just as illegal as cigarettes to advertise. Problem is, just like tobacco, they made the states their partners and now they're greedy for more.


It's not a tax because people choose to gamble.

Posted on: 2014/7/9 14:03
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Re: A casino in Jersey City? Venture capitalist wants to make it happen
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Love or hate gambling - it isn't going away... and sitting out by liberty national golf course poses minimal impact to the populous of JC and casino of that size is poised to provide a ton of low to middle income jobs JC could use.

In terms of preserving state gambling revenue - it makes sense. A few casinos have already shut their doors, Showboat closes in another month, and Revel is set to close if another buyer isnt found. Everyone who wants to gamble is going to PA and NY because they are easier to access... so, place a casino within a stones throw of NYC and make it awesome... sounds intelligent to me. Revenue is half what it used to be in AC - that is a significant hit to the states P&L. 'Grease', politics, and who's giving who an under the table hand job are the reality of any major project...

I could care less about the gambling - but a nice pool, cabanas, and the occasional pool party sound like fun. Not to mention the potential for other entertainment (concerts, comedy, etc.) ... a taxi ride away - I'm all in. ha

Posted on: 2014/7/9 13:50
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Re: A casino in Jersey City? Venture capitalist wants to make it happen
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hero69 wrote:
is the developer a foc.if so? christie will make it happen and give them tax abatements. i say no thanks


Didn't you read the article? Fulop, Sweeney, Lesniak? It's a witches brew of old style Democratic politics. Deals to be made. Alliances to be made and broken. Influence to be bought. Union labor to be rewarded for votes. Turnpike extension widened with expensive union labor probably.

The project is in Hudson County.

They'll all get their beaks dipped.

And you're trying to tar and feather Christie?


Posted on: 2014/7/9 10:57
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Re: A casino in Jersey City? Venture capitalist wants to make it happen
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did i hear this project would create 25,000 jobs....lol. why not just put the casino at xanadu

Posted on: 2014/7/9 9:59
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Re: A casino in Jersey City? Venture capitalist wants to make it happen
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If this were to occur, it would be a disaster to low income families and individuals. Just like fast food chains, casinos also predatory target a select socioeconomic group as their 'bread and butter' clientele. It would be a huge step backwards that would have repercussions for generations

Posted on: 2014/7/9 7:40
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Re: A casino in Jersey City? Venture capitalist wants to make it happen
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jerseymom wrote:

Has anyone here ever lived near a racetrack? I have. The noise and vibrations, not to mention the lovely fumes are something to experience. One would be naive to believe that a racetrack would not seriously impact the quality of life in surrounding JC communities. Paulus Hook, Port Liberte, and anyone in the Garfield Ave corridor can kiss their tranquility goodbye.
...


That's where done right plays into it. I live almost under the Turnpike, near the Holland tunnel. Even with the constant noise and fumes of traffic, overhead helicopters, emergency services sirens, little league speakers blaring...I don't think it's a big deal - we live in a City,and my double-glazing works pretty well to filter the noise. If the racetrack is over by the army base, that's well out of the way of most residences aside from Garfield and Port Liberte, and the Turnpike runs alongside it. With some reasonable landscaping such as trees and embankments, it could be made to work.

I get the objections to noise and a casino - but it's worth keeping an open mind given the possible benefits to JC.

Posted on: 2014/7/9 6:44
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Re: A casino in Jersey City? Venture capitalist wants to make it happen
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"I still need more information regarding the racetrack to be confident it will not harm Liberty State Park. This development would create 25,000 jobs and over $5 billion of investment, which would be one of the largest construction projects in the United States."


Has anyone here ever lived near a racetrack? I have. The noise and vibrations, not to mention the lovely fumes are something to experience. One would be naive to believe that a racetrack would not seriously impact the quality of life in surrounding JC communities. Paulus Hook, Port Liberte, and anyone in the Garfield Ave corridor can kiss their tranquility goodbye. Racetracks are loud in a way you have to hear/feel to believe, they smell, and they are most definitely not an asset to the environment.

What would Morris Pesin think?

Quote:
A venture capitalist from Massachusetts has been quietly meeting with leading New Jersey politicians in recent months, pushing a proposal


Getting very weary of (eventually) hearing about all the "quiet" meetings that are ultimately impacting the good folks that live and work in our lovely city.

Posted on: 2014/7/9 6:15
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Re: A casino in Jersey City? Venture capitalist wants to make it happen
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The hotel, racetrack, golf course, residences and possibly convention center are the draw, not the casino nor ferris wheel - they're simply cake-toppers. The days of busing in blue-rinse haired ladies to play slots are dead - if people want to gamble away their wages they'll do that online anyway. The casino would probably be aimed at attracting the overseas crowd to high-stakes tables - it's a short hop from Newark airport and the Bayonne cruise ship terminals.

I'm guessing the plan is to purchase the army base and convert it. With $5 billion to invest, and 25k jobs, it's hard not to like the idea if it's done right.


Posted on: 2014/7/9 5:55
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Re: A casino in Jersey City? Venture capitalist wants to make it happen
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As per a comment on the NJ.com article, both this venture capitalist and his company have already greased the wheels, donating to Christie's Republican Governor Association.

http://www.opensecrets.org/527s/527cm ... &ein=113655877&cycle=2014

By searching that site, we can also see that they have contributed mightily to New Jersey's Democrats as well, with Cory Booker getting most of the love. Since 2008, their documented contributions totaled over $650,000.

http://www.opensecrets.org/orgs/summary.php?id=D000033668

http://www.opensecrets.org/orgs/summary.php?id=D000033668&cycle=A

http://www.opensecrets.org/usearch/?q ... lldkv0jvam&cof=FORID%3A11

I'm sure Fulop was told there's plenty more where that came from.

New casino, here we come!

Posted on: 2014/7/9 5:16
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Re: A casino in Jersey City? Venture capitalist wants to make it happen
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What's with the ferris wheels, first the aborted plan for Staten Island, now this. Somebody who builds ferris wheels must be donating BIG!

The expansion of gambling in the last 30 years is horrifying, a cynically grown regressive tax on the poor. The hardcore always knew where to find the "numbers", a poker game or how to get to Vegas or AC. Now it's in everyone's faces. I think lotteries and casino gambling should be as legal, and just as illegal as cigarettes to advertise. Problem is, just like tobacco, they made the states their partners and now they're greedy for more.

Posted on: 2014/7/9 3:37
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Re: A casino in Jersey City? Venture capitalist wants to make it happen
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Will this venture capitalist donate to Fulop's campaign for governor? From Fulop's quote in the article, I think that answer is yes.

Good thing a state constitutional amendment is required from voters to build a casino outside Atlantic City because I know which way the wind will blow otherwise.

Posted on: 2014/7/9 2:48
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Re: A casino in Jersey City? Venture capitalist wants to make it happen
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is the developer a foc.if so? christie will make it happen and give them tax abatements. i say no thanks

Posted on: 2014/7/9 2:36
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Re: A casino in Jersey City? Venture capitalist wants to make it happen
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score09 wrote:
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Been living in JC since 2001, and wow, it is a city with a rich history. A casino in downtown jersey City is akin to Pottersville in the movie "It's A Wonderful Life."
...


Did you read the article? The casino/development would be located next to Liberty National Golf Course. That is most definitely not part of downtown.

Posted on: 2014/7/9 2:20
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Re: A casino in Jersey City? Venture capitalist wants to make it happen
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score09 wrote:
Been living in JC since 2001, and wow, it is a city with a rich history. A casino in downtown jersey City is akin to Pottersville in the movie "It's A Wonderful Life." It is, in essence, a doomed offering.

.
It is also akin to having casinos in Atlantic City and the promise of the rebirth of ALL of Atlantic City not just the boadwalk. Didn’t happen.

Posted on: 2014/7/9 2:08
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Re: A casino in Jersey City? Venture capitalist wants to make it happen
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Don't like this idea at all. Gambling is a sordid business. And while the prospect of job creation is certainly enticing, I hope the powers that be do the right thing and put the kibosh on this idea, toot sweet.

Been living in JC since 2001, and wow, it is a city with a rich history. A casino in downtown jersey City is akin to Pottersville in the movie "It's A Wonderful Life." It is, in essence, a doomed offering.

Posted on: 2014/7/9 2:02
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A casino in Jersey City? Venture capitalist wants to make it happen
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A casino in Jersey City? Venture capitalist wants to make it happen

By Matt Friedman/The Star-Ledger The Star-Ledger
on July 08, 2014 at 8:21 PM, updated July 08, 2014 at 8:40 PM

TRENTON — A venture capitalist from Massachusetts has been quietly meeting with leading New Jersey politicians in recent months, pushing a proposal for a casino and hotel rising 95 floors above New York Harbor.

The $4.6 billion project would also feature residences, a 107,500-seat motor sports stadium and what is billed as the largest Ferris wheel in the world.

nj.com piece...

http://www.nj.com/politics/index.ssf/ ... ey_city.html#incart_river

Posted on: 2014/7/9 1:58
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