ATLANTIC CITY, New Jersey — As reported by the Press of Atlantic City: “The chairman of Pinnacle Entertainment Inc. reassured New Jersey gaming regulators Thursday that his company remains serious about building a new casino, despite uncertainty about the financing and timing of the project.
Pinnacle can promise the sky, but until they begin construction ulterior motives will be suspected. Pinnacle’s promises have resulted in Atlantic City’s planning board declaring perfectly functioning businesses as “blighted.” Respect for property rights has been thrown out the window for the mere promise that a mega-casino will be built. City government has employed eminent domain for private gain.
Until 1948 no private property could be taken through eminent domain except for public purposes, explains Seth Grossman, Executive Director of Liberty and Prosperity. New Jersey’s 1948 constitution added the under-defined “blight” as another justification for government to take people’s property through eminent domain. “Blight” opened the door for New Jersey to add “in need of economic development. If government thinks that you are not using your property to its full potential, they can take your property and give it to someone they feel would use it better.
City government has used eminent domain to help Pinnacle obtain a very attractive plot of boardwalk real estate.
“…Pinnacle has assembled a development site of more than 20 acres, including where the Sands stood before it was imploded last fall to make room for the proposed casino. In response to questions from the CCC, Lee stressed the company has no plans to sell the land…”
Pinnacle is using the following excuse to explain why no construction has begun.
“…Tight credit markets that have made it difficult and expensive to borrow money have put Pinnacle’s project in a holding pattern.
Government should uphold property rights. The primacy of property rights has been the strength of America. The people need to demand that the importance of private property be restored. Mere promises should never justify the legalized theft of private property.