Thursday, June 19, 2014

Heckuva Job

Oh well.
Atlantic City's Revel Casino Hotel warned its staff Thursday that it will shut down this summer if a buyer can't be found for the struggling casino.

I accept that we're always going to have some degree of crony capitalism, that we're always going to have some level of a corruption tax. But couldn't we light money on fire for nice and useful things occasionally?
The state’s Economic Development Authority granted $261 million in tax incentives to help jump start stalled construction of the project in February 2011. Christie signed legislation at the Revel construction site that created a state tourism district in the city, boosted marketing of the resorts and eased regulations on casino operators.

Their business model is "taking your money." That isn't enough, so they have to take taxpayer money, too.