TRENTON — A Wall Street ratings agency said today that Gov. Chris Christie’s installation of a financial management team to guide Atlantic City out of financial peril may hurt not only Atlantic City’s credit worthiness but all of the state’s financially strapped cities. The appointment of fixers indicates the state may be less willing to bail… Read the rest of this entry »

Atlantic City in crisis: Chris Christie appoints state emergency manager Stopping short of calling it a state takeover of Atlantic City, New Jersey Governor announces his appointment of a state emergency manager to help deal with the city’s financial crisis in the wake of the closure of four of the city’s 12 casinos, which has obliterated… Read the rest of this entry »

TRENTON — Gov. Chris Christie will appoint an emergency manager to take over the troubled resort town’s daily operations, The Wall Street Journal reported early Thursday morning. The emergency manager position was one recommendation of an advisory commission formed by Gov. Chris Christie. The governor is expected to foamily announce the move Thursday during the third… Read the rest of this entry »

PHILADELPHIA — New Jersey has landed a $29.4 million federal grant to help displaced Atlantic City casino workers impacted by recent closings, officials announced Tuesday. The award from the National Emergency Grant through the U.S. Department of Labor will be used for training programs to help affected workers learn skills for jobs in new fields. Atlantic… Read the rest of this entry »

ATLANTIC CITY — The Atlantic City Race Course will close down “permanently” next week, the track’s owners said in an online statement. Greenwood ACRA said the last day for simulcasting and to cash winning tickets will be Jan. 16. Winning tickets may be cashed after that date at Vineland OTW on South Delsea Drive. Joe Wilson,… Read the rest of this entry »

TRENTON — A state Senate panel today acted on five bills aimed at helping financially ailing Atlantic City, which has seen four of its 12 casinos close in recent months. The bills, approved by the Senate budget committee, would attempt to stabilize the city’s plummeting property tax base, ensure its casino workers have health care coverage,… Read the rest of this entry »

The legislative debate over Atlantic City’s financial struggles — and the future of gambling in New Jersey — is starting to shape up as a deadline approaches for what could be the city’s fifth casino closure of the year, and lawmakers look forward to passing bills on casino taxation, redevelopment funding, and local tax relief as… Read the rest of this entry »