New Jersey Governor Chris Christie was challenged by casino workers over jobs, as three associated with the city’s casinos face imminent closing. Christie, who was at Ocean City Town Hall to discuss retirement reforms, was greeted on his arrival by a team 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 was 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 it self in financial serious straits, particularly when backers, Morgan Stanley, pulled down soon after.
The project that is entire been a complete tragedy, 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 with a $261 million buck bailout in tax credits and loan that is new desperate to see the $2.4 billion project through to completion.