Members of the Atlantic City Council are turning in the keys to their city-issued vehicles. Council President Marty Small says he’s accepting all of the keys and taking the cars off the road as a way to show residents the city is serious about cutting spending. The cars to Council plan in Atlantic City even…
The biggest city in our region may be declaring bankruptcy. Atlantic City officials are going to meet next week to consider a bankruptcy filing. Council has been trying to avoid a state takeover and met with Assembly Speaker Vincent Prieto to see if he would consider opposing the state takeover. Gov. Chris Christie pocket vetoed…
A casino is coming back to the Revel in Atlantic City. Developer Glen Straub told the Associated Press that he will open the resort with a new casino inside of it, albeit smaller than the casino that used to be in the Revel. Straub wants to build a water park inside the Revel; construction could…
The question is “now what” for Atlantic City. Governor Chris Christie failed to sign three rescue bills into law that would have helped Atlantic City pull out of a financial crisis. Christie failed to act by Noon Tuesday on the bills, which means they are dead in the water. Some believe lack of action by…
Noon, Tuesday..that’s the deadline for Governor Chris Christie to sign PILOT rescue bills that would allegedly save Atlantic City. The Governor has until 12 Noon Tuesday to sign three bills into law that would essentially change the way casinos pay property taxes, and how the city pays down debt. Atlantic City has a budget deficit…
Being held up without a gun. This is how Atlantic City Councilman Frank Gilliam described the potential state takeover in Atlantic City in an opinion piece he wrote for Politickernj.com. Gilliam notes that the state has contributed to many of the financial struggles in Atlantic City and now wants to raid its assets. One of…
Stockton University has finally unloaded the Showboat Casino in Atlantic City. Bart Blatstein, a Philadelphia developer, has purchased the property for a paltry $23 million. Stockton University President Harvey Kesselman says the university is pleased with closing this chapter of its history. A lawsuit filed by another casino essentially forced Stockton University to sell the…
It took about a year, but the Christie administration finally released its long-awaited report on how to fix financially strapped Atlantic City. The report from Emergency Manager Kevin Lavin calls for legislative efforts to help Atlantic City, but not does absolutely call for a state takeover. Senate President Steve Sweeney says lawmakers should act promptly…
The final report was released on how to fix Atlantic City. It took an emergency manager that Gov. Chris Christie appointed over a year to produce his findings. The report by Kevin Lavin doesn’t suggest that the resort file bankruptcy, but does call for severe spending cuts and privatization of parts of local government. The…
A major Wall Street agency sees bad times ahead for Atlantic City if North Jersey casinos are allowed to be built. Moody’s Investor Services believes more casinos would close in Atlantic City if casinos were allowed to be built in other parts of the state. Some believe up to three casinos could close in Atlantic…