Senator Joe Pennacchio announced on May 1 his renewed push to pass SCR-31, a proposal that would allow slot machines at horse racetracks in New Jersey. This comes as neighboring states continue to increase competition for regional gambling revenues.
Pennacchio said the move is necessary for New Jersey to remain competitive with nearby states such as New York and Pennsylvania, which are making efforts to attract more of the gaming market. “Atlantic City has publicly decried expansion of gambling in New Jersey citing a cannibalization of their industry. Too late. The surrounding states are doing that right now,” Pennacchio said.
He continued, “New Jersey must stay competitive with our neighbors, and the easiest way to do that is expand our gaming industry. No one does gaming better than New Jersey, but New York and Pennsylvania are making aggressive moves to capture more of the market. We have to evolve to keep those gaming revenues, jobs and tourists here in the Garden State.”
Pennacchio has long advocated for racinos at locations like Meadowlands Racetrack and noted that plans for three new casinos in New York City by 2030 make action urgent. He added, “Quite frankly, we’re leaving money on the table by not allowing racinos. Adding slot machines at horse racetracks would be an immediate economic engine, generating new revenues for the state while supporting existing gaming interests and local tourism.”
The senator’s bill proposes giving Atlantic City casinos a stake in new racino ventures through a consortium based on their presence in Atlantic City: “My proposal would give casinos in Atlantic City a buy in into the New Jersey Racinos… Instead of standing by and complaining about efforts to expand gambling venues in New Jersey they should join us and reap in their rewards. While they complain, neighboring states are going full speed ahead.”
If approved by voters as a constitutional amendment, revenue from slot machine gambling at horse tracks would go toward public employee pensions, support Atlantic City’s casino industry, and aid horse racing across the state.
According to the official website, Bucco provides constituent services through a district office and email for legislative inquiries (source). The same source reports Bucco serves as a member of both Senate Judiciary Committee and Senate Budget and Appropriations Committee (source), engages actively in legislative work including sponsoring bills (source), holds leadership roles such as Senate Republican Leader (source), has chaired committees (source), and represents District 25 as senator (source).
The debate over expanding gambling venues continues amid concerns about market share loss from out-of-state competition.
