Panel recommends overhaul of NJ gaming, sports

July 21, 2010 6:59:57 AM PDT
New Jersey would go all-in on Atlantic City casinos and bow out of horse racing.

Gov. Chris Christie on Wednesday will announce the findings of a panel that reviewed the state's gambling, entertainment and sports industries.

The Statehouse Bureau of The Star-Ledger of Newark and The Record reports Christie will support a series of recommendations aimed at boosting the nation's second-largest gambling market.

They include a nearly complete state takeover of Atlantic City's casino district, closing the Meadowlands Racetrack and selling the Izod Center.

Casino executives are delighted. But opponents fear New Jersey will lose business to gaming venues in New York, Pennsylvania and Delaware.

The state would also offer a $175 million tax credit to revive the Xanadu retail and entertainment complex.