Trenton – Senate President Steve Sweeney (D-Gloucester/Salem/Cumberland) issued the following statement today reacting to the purchase of Caesars Entertainment by Eldorado Resorts, a deal valued at an estimated $17.3 billion that would concentrate control of four New Jersey casinos in the largest gaming conglomerate in the country:
“This is a significant purchase that could have a real impact on New Jersey’s gaming industry, Atlantic City’s economy and the livelihoods of casino workers and others whose jobs rely on the financial activity of the gaming sector. At a time when the state’s gaming business and Atlantic City’s casinos are experiencing a strong comeback, we don’t want to allow the ongoing resurgence to be compromised by a deal that concentrates too much control in a national conglomerate.
“We should be just as concerned about the fate of individual casino workers and their families in Atlantic City as the stockholders are about their profits. The combined company will own 60 casino resorts across 16 states, but we need to look out for the impact on New Jersey.
“Gaming regulators should be sure to thoroughly evaluate the consequences of this deal. I will be monitoring the progress of the transaction to make sure it serves the best needs of New Jersey and our workers.”