New Jersey Governor Chris Christie was challenged by casino workers over jobs, as three of this city’s casinos face imminent closing. Christie, who had been at Ocean City Town Hall to discuss retirement reforms, was greeted on their arrival by a group 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 key ingredient to Christie’s designs for Atlantic City. Conceived before the recession, construction of the Revel project started in 2008, just since the downturn that is economic, and Revel Inc discovered itself in financial dire straits, particularly when backers, Morgan Stanley, pulled out soon after.
The entire project has been a complete catastrophe, consistently losing profits since it opened in 2012 and more recently hemorrhaging $2 million per week
Christie, for who Revel represented the promise of a gleaming, revitalized Atlantic City, intervened having a $261 million dollar bailout in tax credits and loan that is new desperate to see the $2.4 billion project through to conclusion. Continue reading “Christie Guarantees Jobs For Casino Workers. Under fire, Governor Chris”