Mohegan Sun The Latest To Bet On “Dying” Atlantic City

Tuesday’s official announcement that Connecticut-based Mohegan Tribal Gaming Authority, via its consulting arm, Mohegan Gaming Advisors, will assume management of Resorts Casino-Hotel seems to be a case of not seeing the forest for the trees.

It’s certainly big news that the financially beleaguered gaming hall — the oldest legal casino east of Nevada — has exponentially increased its chances for long-term survival via the newly forged partnership with Mohegan Sun (which is pending state regulatory approval), as well as through the recently consummated deal that will turn a sizable portion of Resorts real estate over to Jimmy Buffett’s Margaritaville brand. But there is a much larger picture here.

For all the of the “experts’” braying about Atlantic City’s gambling industry suffering a terminal case of competitionitis, the fact is that AyCee has recently seen a large infusion of investments – upwards of $200 million, not including Revel’s $2.4 billion price tag.

If the town were indeed “dying,” why would such big-time outfits as Mohegan Sun, Margaritaville and Golden Nugget expend so many resources, financial and otherwise, on the seaside resort? We can assume the folks running these companies are not completely clueless and incompetent. Which leaves the possibility that the smart money sees a rosy future for Atlantic City as a big-time destination.

Read more: http://www.philly.com/philly/business/homepage/165482725.html#ixzz23AN6mms6
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Christie Puts Property Tax Reform Into Place In New Jersey

Dear Ed Rendell,

I seem to remember property tax relief/reform being a priority during your 2002 campaign.  Geeze Ed, 8 years later….ummmm not seeing any relief yet.  Those of us in Pottstown certainly haven’t noticed any relief as taxes have skyrocketed!  What about all the gambling money that was going to “easy the burden” of the average Pennsylvania taxpayer?  Hmmmmm, we are not seeing any of that gambling money floating around Pottstown either, Ed.  Heck, the Keim Street bridge needs replaced before it falls into the Schuylkill River for starters.  Can ya send a few bucks our way??

So along comes New Jersey’s new governor Christie.  The guy just gets into office and hasn’t even broken in his chair yet and badabing-badaboom….a property tax relief bill is signed into law.  Just like Christie promised.  Imagine our surprise here in Pottstown, Ed.  Maybe you should give Governor Christie a call and ask for a few tax relief pointers before you leave office.  You still have a couple of months to get the ball rolling.  We would really appreciate your help in this matter.

Very Truly Yours, 

Overburdened Pottstown Taxpayers