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Jersey City $4.6 Billion Casino Resort Proposed for North Jersey

Jersey City $4.6 Billion Casino Resort Proposed for North Jersey

A casino in Jersey City could fight off competition from New York in the Garden State casino market (Image: sloanspringer.com)

Venture capitalist Paul Fireman wants to create a $4.6 billion casino resort in Jersey City, according to reports by the New Jersey press. State Governor Chris Christie recently declared his openness to the expansion of casino video gaming into North Jersey, plus it appears Fireman, who is A ceo that is former of and today operates Fireman Capital Partners, is working difficult to make it happen.

The businessman has been meeting with New Jersey politicians over the month that is past discuss their proposal for a 95-story hotel and casino rising above New York Harbor that could additionally feature a motorsports stadium and ‘the largest Ferris wheel in the world.’

Atlantic City, which has always had the monopoly on casino gaming since the property that is first there in 1978, has lately been in dire financial straits. Despite injections of money and a five-year intend to rejuvenate the town, spearheaded by Governor Christie in 2011, its casino market didn’t bounce back from the recession, because had been hoped.

Additionally, it is often hit hard by new competition from neighboring states such as for instance Pennsylvania, which has superseded brand New Jersey as the second biggest casino market in the usa, after Nevada. And while Atlantic City casinos like The Showboat and Revel cont (more…)

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