New Jersey Governor Chris Christie was challenged by casino employees over jobs, as three for the city’s casinos face imminent closing. Christie, who was at Ocean City Town Hall to discuss pension reforms, was greeted on their arrival by a small grouping of workers from the threatened Revel, Showboat and Trump Plaza, chanting ‘Save our Jobs’ and ‘Five Year Promise.’
Each year to bring more flights to the Atlantic City airport, promote more convention business and raise private investment into the casino market in 2011 Christie issued a five-year plan that promised to fix the New Jersey economy, offering millions of dollars.
Revel had been a ingredient that is key Christie’s designs for Atlantic City. Conceived before the recession, construction of the Revel project started in 2008, simply since the downturn that is economic, and Revel Inc found itself in financial serious straits, particularly when backers, Morgan Stanley, pulled away soon after.
The entire project has been a complete catastrophe, consistently taking a loss since it opened in 2012 and more recently hemorrhaging $2 million each week
Christie, for who Revel represented the promise of a gleaming, revitalized Atlantic City, intervened having a $261 million buck bailout in income tax credits and new loan, hopeless to understand $2.4 billion project right th (suite…)