International edition
September 27, 2020

Atlantic City

Revel Hotel and Casino project will resume its us$ 261 million construction

(US)-. Governor Chris Christie announced that the construction will resume next week, after a two year delay, thanks to a us$ 261 million boost from the state. The Economic Development Authority approved financing for the Revel project and in turn the state will be a 20 percent partner, ensuring a piece of the casino’s profit.

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nbsp;“The state will not share any potential losses and the arrangement will end once the us$ 261 million is recouped,” Christie’s spokesman Michael Drewniak, said. He signed bills that will deregulate Atlantic’s City gambling industry,  in an attempt to breathe new life into a resort facing competition from surrounding states.

Christie said the state aid is about 8 percent of anticipated sales tax revenue for the project, but the bulk of the financing, about us$ 1.155 billion, is private. Christie said with deregulation, casinos will save money and can invest more in advertising and marketing. He wants to turn Atlantic City into a vacation and convention destination.

The law establishes a tourism district and requires a division of police be funded by the city and patrol the district.  Christie and Atlantic City Mayor Lorenzo Langford, who skipped the press conference, have been at odds over the plan.

Christie counters that State Police will help patrol the district and it won’t cause problems for the non-district residents. He dismissed Langford’s criticisms as "baloney."
The plan, however, drew criticism from conservative and liberal groups.

Langford contends the city will be required to divert resources from high-crime areas to the low-crime casino district, noting the populations of the areas to be in the tourism district are mostly white while most in areas left out are black.

"It’s just another in a long line of failed attempts to subsidize Atlantic City," said Steve Lonegan, Americans for Prosperity New Jersey Director, a conservative who lost to Christie in the 2009 GOP primary. "The Revel Casino hit the jackpot here at government expense. And New Jersey Policy Perspective Executive Director Deborah Howlett questioned how Christie could claim the state is broke while promising hundreds of millions in subsidies.

New Jersey Policy Perspective Executive Director Deborah Howlett questioned how Christie could claim the state is broke while promising hundreds of millions in subsidies.

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