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3 Mar

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 New York 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 New 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 former ceo of reebok now runs Fireman Capital Partners, is working difficult to make it happen.

The businessman has been ending up in New Jersey politicians over the month that is past discuss their proposal for the 95-story hotel and casino increasing above New York Harbor that would also feature a motorsports stadium and 'the largest Ferris wheel in the globe.'

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

Also, it has been hit hard by brand new competition from neighboring states such as Pennsylvania, which has superseded brand New Jersey as the 2nd biggest casino market in the united states, after Nevada. And even though Atlantic City casinos like The Showboat and Revel contemplate closure, Christ