New Jersey Governor Chris Christie is challenged by casino employees over jobs, as three of this city’s casinos face imminent closure. Christie, who was simply 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.’
In 2011 Christie issued a five-year plan that promised to repair the New Jersey economy, offering millions of dollars every year to bring more routes to the Atlantic City airport, promote more convention business and raise private investment into the casino market.
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 due to the fact downturn that is economic, and Revel Inc found itself in financial serious straits, specially when backers, Morgan Stanley, pulled out soon after.
The project that is entire been a complete tragedy, consistently taking a loss 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 taxation credits and new loan, desperate to see the $2.4 billion project right through to completion.