New Jersey Senate President Steve Sweeney has proposed a plan to bring financial stability to Atlantic City and lay the foundation for future economic growth that includes a financially-healthy gaming industry as well as other attractions as a “destination” resort city.
The proposal comes in advance of a summit scheduled Wednesday that will bring together government officials, community leaders, business and the city’s workforce.
It is the first meeting to be held in the wake of multiple casino closings this year which includes the Atlantic Club Casino, Caesars’ Showboat Atlantic City, Revel Casino Hotel, and Trump Plaza, while Trump Taj Mahal could be closed in the next month.
“This is a plan to protect Atlantic City from bankruptcy and position the city for future economic growth,” said Senator Sweeney. “With four casinos already closed and one likely to close by the end of the year, Atlantic City is facing unprecedented financial challenges."