ATLANTIC CITY SAVES PLENTY IN DEAL WITH BORGATA

Atlantic City has cut a very favorable deal with money it owes to the Borgata Casino Hotel.  The city is paying the Borgata $72 million in tax appeal debt which is less than half of what the city actually owed the gaming property.  A state mediator handling the finances for Atlantic City says both sides have won, and Atlantic City has rid itself of a huge financial problem.