SanchoPanza
SanchoPanza
Joined: May 10, 2010
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January 11th, 2011 at 5:29:50 AM permalink
http://www.pressofatlanticcity.com/news/breaking/article_22887270-1d2d-11e0-91ca-001cc4c002e0.html
Casino officials say new Atlantic City gaming regulations mimic Nevada’s

Posted: Monday, January 10, 2011 9:45 pm | Updated: 1:00 am, Tue Jan 11, 2011.

Casino officials say new Atlantic City gaming regulations mimic Nevada’s By DONALD WITTKOWSKI Staff Writer pressofAtlanticCity.com | 0 comments

With apologies to the famous TV commercial, what happens in Vegas doesn’t always stay in Vegas. A Las Vegas-style system of casino regulation is coming to New Jersey following the state Legislature’s overhaul Monday of the Atlantic City gaming industry.

Casino executives lauded the changes. Critics see it as an attack on what for three decades has been an international model for casino regulation.

“New Jersey’s casino regulatory structure, at present, is the gold standard around the world and to tamper with it makes no sense as public policy, much less to wreck it as this legislation does,” said Carl Zeitz, a former member of the New Jersey Casino Control Commission.

Lawmakers approved a legislative package to ease New Jersey’s strict casino regulations. It is the most radical change to New Jersey’s casino regulatory structure in its 33-year history and will now give Atlantic City a less stringent, Las Vegas-style system of checks and balances.

“What they’re talking about is almost a duplicate of Nevada,” said Dennis Gomes, chief executive officer of Resorts Casino Hotel. “Certainly, New Jersey had a reputation of being one of the strongest bodies in the country. But I think Nevada has done a good job with its system. I think both can work,” Gomes said. . . .
ElectricDreams
ElectricDreams
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January 11th, 2011 at 6:54:36 AM permalink
Are the two systems radically different right now? I guess I didn't know that. Is Nevada's regulation less restrictive than New Jersey's, or something?
SanchoPanza
SanchoPanza
Joined: May 10, 2010
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January 11th, 2011 at 7:07:39 AM permalink
Quote: ElectricDreams

Are the two systems radically different right now? I guess I didn't know that. Is Nevada's regulation less restrictive than New Jersey's, or something?


The article says yes and adds:
"“As the legislation stands, it represents a total surrender of New Jersey’s regulatory responsibility, and the surrender is being made by people who know nothing about how you regulate casinos,” Zeitz said.

Zeitz accused the Legislature of moving too fast to approve the changes. He argued that the regulations should have been streamlined and modernized instead of being “wrecked.”

“This system of regulation was carefully constructed in 1977, representing the outcome of serious deliberation then by both the Legislature and the governor,” he said. “It established the toughest, most reliable system of regulation for casinos, then and now.”

One of Zeitz’ biggest fears is the loss of state gaming inspectors. The reform legislation ends the requirement for gaming inspectors to be on duty on a 24-hour basis.

Inspectors will no longer be in the casino “count rooms,” where the vast amounts of cash are held. Among their duties, they ensure that the state receives its 8 percent tax cut of casino receipts. Zeitz said there is a greater possibility of theft if inspectors are no longer overseeing the cash."
FleaStiff
FleaStiff
Joined: Oct 19, 2009
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January 11th, 2011 at 9:08:26 AM permalink
Actually some of the NJ regulations were overly restrictive. Think back to the no state budget. When the legislature realized that meant no Inspectors in the Casino and therefore no casino being open for business, the legislature and the governor passed a budget but fast.

Count room inspectors? Casino security and surveillance seems to work fine in Nevada when coupled with precise processing and retention times.

What it really means is that the board will soon be weakened and that is what the casinos want. Card counters can start packing their bags soon. New felt layouts for the craps table are probably already on-order: Big 6 and Big 8 return! Funding for the Gaming Commission will be from the casinos themselves. New appointees to the Commission will be Mr. Toady and Mr. Stamp, who is known to his friends as Rubber.
Lote
Lote
Joined: May 20, 2010
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January 11th, 2011 at 10:50:52 AM permalink
I thought they already combated card counting in NJ by having shoe games, ~50% penetration, no mid shoe entry, and a super low bet spread.

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