Gov. Christie Signs Atlantic City Rescue Package
ATLANTIC CITY, N.J. (AP) – New Jersey Gov. Chris Christie says construction will resume next week on Atlantic City’s half-finished Revel casino.
Christie says Revel’s owner came up with most of $1.15 billion on its own. New Jersey will contribute $261 million through the Economic Development Authority and will hold a minority ownership in the casino.
The governor says the casino will open in June 2012.
Work began on the Revel in 2007 before the national recession hit and credit markets dried up. Revel ran out of money in January 2009.
Christie made the announcement as he signed an Atlantic City rescue package into law Tuesday.
The bills would create a state-supervised tourism district with enhanced police patrols and sanitation. Another bill would ease regulations of the city’s 11 casinos.
(Copyright 2011 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)