By executive order, Christie appointed Kevin Lavin as the city’s emergency manager and Kevyn Orr as special counsel to the emergency manager.
Despite Bad Report On Gaming Revenue In AC, Experts Suggest The Trend Should Turn Around In Year Ahead
Atlantic City’s casinos made less money again in the year gone by, according to figures released this week by the state of New Jersey.
Atlantic City has lost nearly half its casino revenue over the past eight years as competition in nearby states cannibalized its market and drove four casinos out of business.
New Jersey’s Congressional delegation announced today that Atlantic City could receive up to $29.4 million in emergency grants to help the oppressed work force.
New Jersey lawmakers are taking steps to attract small new casinos to Atlantic City and increase home ownership there as the city reels from a financial crisis partly brought on by the closings of large casino resorts this year.
New Jersey isn’t giving up on its effort to attract small new casinos to Atlantic City.
The Atlantic City region lost 9,900 jobs over the past 12 months, battered by the closure of four of Atlantic City’s 12 casinos, according to data released Tuesday.
A tax stabilization plan making its way through the state Legislature should keep Atlantic City’s Trump Taj Mahal casino from closing, the city’s mayor said.
Asked if the package, if enacted into law, would be enough to keep the Taj Mahal open, Robert Griffin, CEO of Trump Entertainment Resorts, would only say, “We will see.”
Bankrupt Trump Entertainment Resorts and the city of Atlantic City have reached a deal to let the city collect unpaid taxes.
The owners of the former Atlantic City casino, which closed on Sept. 2, filed an appeal Monday of a bankruptcy court order letting Atlantic City hold a tax sale of the unpaid debt.
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Been there, done AC. Now it’s time to move on.
A southern New Jersey lawmaker is proposing legislation to add Atlantic City to the state’s Urban Enterprise Zone project, enabling it to charge half the state sales tax and qualify for other economic incentives.
The Richard Stockton College is buying the former Showboat casino and plans to use it as a satellite campus.