From the Wall Street Journal:
The mammoth Revel Casino Hotel, with its curving facade, high-end restaurants and pulsating nightclubs, was heralded as a game-changer in Gov. Chris Christie’s push to revitalize Atlantic City.
But Revel announced Tuesday it would close next month after two years of operation, possibly carrying away 3,000 jobs from the beleaguered seaside city and dealing a setback to Mr. Christie’s vision for its renewal. Revel had already filed for bankruptcy twice.
Casinos in the city are falling like dominoes. The Atlantic Club closed in January, and the Trump Plaza and the Showboat say they plan to shut down later this year.
“The Revel is definitely a blow for Atlantic City, gaming in general and the state of New Jersey,” said Jeff Hartmann, a former chief executive of the Revel. “The competitive headwinds were just too difficult at this point in Atlantic City. This will have an impact on how investors look at Atlantic City and the industry.”
The Christie administration declined to comment……………………………..
…………………………………….State Senate President Steve Sweeney, the Legislature’s ranking Democrat, said he is calling for local officials, unions and other parties with a stake in Atlantic City to come together in September and begin speaking about how to create a new economy in the city……………………….
Um, haven’t you guys done enough?
2 Comments
Christie scheduling a meeting to discuss what to do. I know for a start call Steve Wynn and ask him!!!!!!!! Also NJ government
should ask the five families. We could fix this mess rather quickly.
Here’s how to make gambling work in N.J. Open it up like in Nevada, everywhere, in all towns so people don’t have to go all the way to A.C. Make chips legal currency. They’ll be able to cash their welfare checks right in a casino. See, the problem is easily fixed. Oh yes, limit state involvement as much as possible.
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