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Atlantic City’s Biggest Loser?


I never understood why the folks buy any of this nonsense when politicians talk about “investing” tax money.  Whether it’s green energy projects or high speed rail, if this stuff was really worth investing in we wouldn’t need the government to force the investment on us.  Actually, the fact that force was needed in the first place is a pretty good indication that the investment will never pay any return.

Our local “investment” debacle is, of course, Atlantic City.

From a press release made in September 2011 from Chris Christie’s office:

Reaffirming his commitment to revitalize Atlantic City, Governor Chris Christie today applauded the Casino Reinvestment Development Authority’s (CRDA) approval of John F. Palmieri as its new Executive Director, calling it an important next step in realizing the Administration’s forward looking, comprehensive reform agenda to bring Atlantic City back. Susan Thompson currently serves as the interim Executive of the CRDA and will return to her role as Deputy Executive Director.

“This Administration is deeply committed to making greater progress on the reform agenda we’ve laid out to turn around Atlantic City’s gaming and tourism economy, make it a premier destination resort, and strengthen its role as an engine of economic growth and job creation for the state and region,” said Governor Christie. “Over the past year, the Hanson Commission Report has provided us with a framework to focus our work on job creation, capital investment and regulatory reform. The momentum is with us to bring job creation, growth and hope back to Atlantic City and the region. Every day we are making progress to secure the growth, investment and success of Atlantic City’s gaming and tourism industries and I am pleased that John Palmieri will be there to provide leadership in that effort.

“I also want to thank Susan Thompson for guiding the CRDA through this transition period,” added Governor Christie. “Her responsible and dedicated leadership has moved Atlantic City forward, spurring the creation of the tourism district and a host of other development activity. I am gratified that she will continue to be a part of our Atlantic City team.”…………………………


……………………………Since the July 2010 Hanson Commission Report, the Christie Administration has made clear advancements to revive growth and development in Atlantic City. This progress includes:

Revel Casino: The $2.8 billion project, which encompasses a 53-story, 6.3 million square foot, 3,800 room hotel and casino, will be the largest property of its kind in Atlantic City when completed. Total job creation is estimated at more than 10,000 jobs, including 5,500 permanent jobs, 2,600 construction jobs, and 1,100 manufacturing jobs.

“Boutique Casinos:” The Casino Control Commission has received an application for AC Gateway LLC (DBA Hard Rock,) Atlantic City, New Jersey to initially construct a 200-room hotel with a casino of up to 34,000 square feet.

Atlantic City Tourism District: Launched in April, the district is an area in which the CRDA is authorized to facilitate development by assuming planning, zoning and other land use functions and develop and implement a Tourism District Master Plan………………

Now, less than three years later:

A second bankruptcy for struggling Revel casino

Trump Plaza set to close in Sept.

Casino owner gambles on Showboat closing


So can online gambling save them and allow us to recoup some of our investment?  Oops….SNAKE EYES AGAIN!


BTW, Christie is also pushing sports betting as a panacea for struggling casinos and racetracks.  And although it is prohibited by federal law, the governor has vowed to fight the feds tooth and nail to get sports betting legalized.  This is from the same governor who claimed that we couldn’t have medical marijuana because it was against federal law and there was nothing he could do about it.

So he was willing to take a case to the Supreme Court (at our expense) to fight to allow people to blow their paychecks betting on sports, but dragged his feet when it came to helping sick and dying New Jersey residents who would have benefited greatly from the availability of medical marijuana.



  1. VITO CORLEONE wrote:

    Things were better in the old days. Michael—we just didn’t have enough time….

    Sunday, July 13, 2014 at 6:55 am | Permalink
  2. Anonymous wrote:

    This is a disaster.

    Monday, July 14, 2014 at 6:10 am | Permalink

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