by Lisa A. Grimaldi | November 10, 2010

A proposal to allow two new smaller casinos to be licensed in Atlantic City has been approved by the New Jersey Assembly. The measure will allow a developer to build a 200-room casino hotel with 20,000 square feet of gaming space; a second developer could build a "staged" casino facility with 30,000 square feet of gaming space and at least 200 hotel rooms, contingent upon it expanding to 500 rooms within five years of being licensed. New Jersey law currently requires casino hotels to have 500 rooms and at least 60,000 square feet of floor space, but recent attempts to develop large gaming properties have been shelved.