Jersey City $4.6 Billion Casino Resort Proposed for North Jersey
A casino in Jersey City could fight off competition from ny in the Garden State casino market (Image: sloanspringer.com)
Venture capitalist Paul Fireman wants to build a $4.6 billion casino resort in Jersey City, according to reports by the brand new Jersey press. State Governor Chris Christie recently declared his openness towards the expansion of casino video gaming into North Jersey, plus it appears Fireman, who is a former ceo of reebok now operates Fireman Capital Partners, is working difficult to make it work.
The businessman has been meeting with brand New Jersey politicians over the past thirty days to discuss his proposal for the 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 includes always had the monopoly on casino gaming since the first property exposed there in 1978, has lately been in serious financial straits. Despite injections of money and a plan that is five-year rejuvenate the city, spearheaded by Governor Christie in 2011, its casino market failed to bounce back through the recession, as was indeed hoped.
Also, it is often hit hard by brand new competition from neighboring states such as for instance Pennsylvania, which has superseded New Jersey as the second biggest casino market in the united states, after Nevada. And even though Atlantic City casinos like The