Massachusetts ‘GAMING’ Future
For those of you questioning why Gov. Christie would appoint someone from the bankrupt city of Detroit to help bailout Atlantic City casinos, here’s why. There are three casinos in Detroit, the MGM Grand, MotorCity and Greektown Casino. Since their inception back in 2000 they have been doing over a billion dollars annually. Now I don’t know about you, but I can’t imagine anyone wanting to casino gamble in Detroit, so I’m figuring most of the money is coming from those who live there or live nearby. Many say the auto industry going south is what caused the city’s demise, but the billions of dollars lost in the casinos by those who live there must have helped.
The Associated Press - January 22, 2014 - N.J. Gov. Christie appoints emergency managers for Atlantic City
ATLANTIC CITY, N.J. — Trying to dig Atlantic City out of "an enormous hole," New Jersey Gov. Chris Christie on Thursday appointed a corporate turnaround specialist as the city's emergency manager, and tabbed the man who led Detroit through its municipal bankruptcy as his assistant.
Corporate finance consultant Kevin Lavin will have broad but still-unspecified powers over Atlantic City's finances and operations. Kevyn Orr, who helped lead Detroit through a financial crisis, will serve as special counsel to Lavin. Christie issued an executive order appointing the men.
Posts
No comments:
Post a Comment