Atlantic City casinos urge Gov. Christie to sign rescue bills

The Casino Association of New Jersey on Monday urged Christie, a Republican presidential candidate, to sign a package of five bills. It was the second time they had called on him to take action on the measures.

The group says failure to enact the laws will cost Atlantic City $50 million this year — money that would have to come from the city's already-strapped taxpayers.

"As the clock continues to tick while we wait for Governor Christie to sign the Atlantic City revitalization legislation, the price of inaction continues to grow and the fate of Atlantic City and the region hang in the balance," it said in a statement.

A central provision would let Atlantic City's eight casinos make payments in lieu of taxes for 15 years, allowing them to know exactly how much they owe instead of facing huge potential increases each year. In return, the casinos would be prohibited from challenging their tax assessments. Such appeals have cost the city dearly in recent years as its casino industry shrinks.

Others would create new state education aid just for Atlantic City although no amount is specified; mandate health insurance and retirement benefits for casino workers without mandating specific amounts of coverage; divert alternative investment taxes the casinos now pay for redevelopment projects to help pay down Atlantic City's debt; and eliminate the Atlantic City Alliance and use its $30 million annual budget for other, as-yet undetermined ways to help the city.

The state Legislature passed the measures in June, but Christie has not yet taken action..