Casino News

Atlantic City casino 'will generate $134m a year'

2010-02-02 16:44:12

A new casino planned for Atlantic City's Boardwalk could produce $134 million of revenue on an annual basis, the New Jersey senator has claimed.

Raymond Lesniak, who is sponsoring a bill that will see the $2 billion gambling establishment receive a tax break to speed up construction, noted that it will bring a number of benefits to the state, the Philadelphia Inquirer reports.

Entitled Revel, the venue would create approximately 2,600 building jobs during its development, as well as 5,500 vacancies at the completed structure and a further 2,500 peripheral positions, he said.

"Revel is not just another casino," Mr Lesniak remarked. "It's a $2 billion investment in making Atlantic City a tourist destination."

According to the senator, it will also help the region be more competitive with neighboring states that are introducing new gaming rooms.

The Wall Street Journal recently reported that MGM Mirage is selling its 50 per cent stake that it holds in Atlantic City's Borgata casino resort.