Boyd Gaming is selling off its half of the Borgata Casino in Atlantic City. Boyd has struck a deal with MGM Resorts International, which will make MGM the sole owner of the Borgata. Boyd says it will use $900 million from the sale to help eliminate debt.
New Jersey Senate President Steve Sweeney does not hold out much hope that Atlantic City will be able to solve its own problems. Sweeney told reporters this week that he will be shocked if Atlantic City can eliminate tens of millions of dollars from government spending within 150 days. If Atlantic City fails to have…
The United States Supreme Court will not hear a case involving the elimination of health and pension benefits at the Trump Taj Mahal. The Press of Atlantic City reports that the highest court will not consider an appeal of a decision made by a bankruptcy court and a federal appeals panel. The union representing the…
Atlantic City, you are on the clock. Governor Christie on Friday signed a rescue bill into law that gives Atlantic City’s leadership 150 days to come up with a balanced budget and slice $100 million in spending. If it fails to do so, a state takeover is imminent. A companion law also will bring $120…
CEO’s of casino properties gathered in Atlantic City this week for the East Coast Gaming Congress. Resorts CEO Mark Giannantonio told his colleagues that if gambling was expanded to North Jersey, three to five Atlantic City casinos would be forced to close. Other casino operators discounted the studies sited by the Resorts CEO and claim…
The New Jersey Legislature approved a package of bills designed to rescue Atlantic City, and now all that’s needed is a signature from Governor Christie. Both the Senate and the Assembly approved legislation that will give Atlantic City 150 days to figure out a balanced budget before a state takeover would occur.
Nine people were injured Wednesday during an accident involving a jitney in Atlantic City. Police say the accident took place shortly after 4pm at Pacific and Massachusetts avenues. Two were seriously injured in the accident; no other details have been released.
Today is decision day for Atlantic City, in Trenton. State lawmakers are expected to consider a new rescue bill for the city that will give leaders 150 days to decide how it will pull Atlantic City out of debt. Governor Christie says he will review the bills quickly and may approve them as soon as…
New Jersey lawmakers will vote Thursday on a bill to give Atlantic City more tme to avoid a takeover by the state government. A bill in the Senate would give the resort 150 days to come up with a five-year fiscal plan and balance their budget in 2017 by cutting a $100 million deficit. In…
The American Civil Liberties Union of New Jersey says the amended takeover bill for Atlantic City would still deny local power to the city and take away their constitutional right to vote. The ACLU claims that the State will assert power that is “exceeding broad and unchecked” and raises civil rights concerns. According to the…