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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 down competition from New York 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 latest Jersey press. State Governor Chris Christie recently declared his openness to your expansion of casino video gaming into North Jersey, plus it appears Fireman, who is A ceo that is former of and today runs Fireman Capital Partners, is working hard to make it work well.

The businessman has been ending up in New Jersey politicians over the past thirty days to discuss their proposal for the 95-story hotel and casino rising above New York Harbor that will also feature a motorsports stadium and ‘the largest Ferris wheel in the globe.’

Atlantic City, which has always had the monopoly on casino gaming since the first home exposed there in 1978, has lately been in dire financial straits. Despite injections of cash and a five-year plan to rejuvenate the town, spearheaded by Governor Christie in 2011, its casino market neglected to bounce back through the recession, as have been hoped.

Furthermore, it was hit hard by brand new competition from neighboring states such as for example Pennsylvania, which has superseded brand New Jersey as the second biggest casino market in the usa, after Nevada. Even though Atlantic City casinos like The Showboat and Revel contemplate cl