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 ny 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 latest Jersey press. State Governor Chris Christie recently declared his openness to your expansion of casino video gaming into North Jersey, also it appears Fireman, who is a previous ceo of reebok and now runs Fireman Capital Partners, is working hard to make it work.

The businessman has been meeting with brand New Jersey politicians over the past month to discuss his proposition for the 95-story hotel and casino increasing above New York Harbor that would 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 property that is first there in 1978, has lately been in dire 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 neglected to bounce back through the recession, as have been hoped.

Moreover, it has been hit hard by brand new competition from neighboring states such as for example Pennsylvania, which has superseded New Jersey as the 2nd casino market that is biggest in the US, after Nevada. And even though Atlantic City casinos like The Showboat and Read More