Emergency Manager Kevin Lavin conducted introductory meetings with union representatives and members of Atlantic City Council on Wednesday and Thursday, during which he downplayed talk of bankruptcy or layoffs and said he is still collecting information about the city’s finances, participants said.
ATLANTIC CITY — Gov. Chris Christie, at his third Atlantic City summit meeting Thursday, is expected to announce the appointment of an emergency manager who will have extraordinary powers to oversee the city’s government and troubled finances.
The city must save $40 million by 2017, and can do that with a combination of personnel reductions, tax stabilization and increased revenue, according to a city-backed recovery plan presented Friday to the Governor’s Office.
ATLANTIC CITY — An emergency manager to oversee the city’s troubled finances and the creation of a new public-private development corporation are part of a package of reforms Gov. Chris Christie will consider to revitalize the struggling resort town.
ATLANTIC CITY — After an awful 2014, Atlantic City’s casino industry is off to an encouraging start for 2015, with the eight surviving casinos seeing an almost 19 percent increase in January over what those same properties won last year.
Philadelphia developer Bart Blatstein, who is competing for a casino license to build a gaming resort in Center City around the old Philadelphia Inquirer & Daily News building, is buying the Pier Shops at Caesars in Atlantic City.
ATLANTIC CITY — The state agency overseeing Atlantic City’s tourism and redevelopment projects approved new attractions Tuesday that promise to elevate the entertainment scene, add some sparkle to the Boardwalk and improve public safety.
There’s no need to recite all the grim statistics; 2014 will be remembered as The Lost Year in Atlantic City, when four casinos closed, hurtling the resort into a financial crisis that officials are still grappling with.
NEW BRUNSWICK — These days, the State Theatre
features plays, the ballet, the New Jersey Symphony Orchestra and
shows by big-name entertainers such as Kathy Griffin, Harry Connick
Jr. and Crosby, Stills & Nash.
Developers and city leaders believe Atlantic City can entice a
new group of young professionals to take up residence there,
spurring the housing and economic development the city needs as it
seeks to diversify its economy and grow its tax base.
WILMINGTON, Del. – A federal bankruptcy court
judge ruled Trump Entertainment could stop paying for healthcare
and pensions of UNITE HERE Local 54 workers at Trump Taj Mahal,
saving the casino for now, but potentially stripping these benefits
from thousands of resort casino employees.
A federal judge in Wilmington, Del., will decide the fate of
Trump Taj Mahal on Friday afternoon. Bankruptcy Court Judge Kevin
Gross is expected to rule at 3 p.m. on parent company Trump
Entertainment’s request to force concessions on members of Local 54
Billionaire investor Carl Icahn says it is “ridiculous,” for
state Senate President Stephen Sweeney to hold him accountable for
the closing of Trump Plaza, saying Sweeney never called him and
they never held rescue talks.