Tag Archive: revel

Chris Christie plays Let’s Make a Deal with Revel

After his term as Governor of New Jersey is over, it would be fun to see Chris Christie on the Let’s Make a Deal. I see it going like this:

Wayne Brady: Governor, you can have the $261 million dollars, or you can have 20% of what’s behind Curtain #3!

Chris Christie: That’s a real New Jersey Comebackl!

Wayne Brady: Are you sure? Everyone else turned the deal down.

Chris Christie: I’ll make the deal!

Wayne Brady: Sorry, you’ve gotten 20% of nothing. I wonder what else you could have done with $261 million dollars.

It would be funny, if that wasn’t the actual deal Chris Christie negotiated with the Revel Casino, 20% of future profits in exchange for $261 million now. Analysts expect Revel to declare bankruptcy soon, leaving New Jersey with 20% of nothing:

The $17.5 million that Revel generated from its slot machines and table games was just a tad better than the $14.9 million it made in June – but still significantly below the $25 million to $30 million that Wall Street projected it needs to stay solvent and pay its bonds.

The next episode will feature Xanadu.


Springsteen agreement to Christie AC proposal is revel-olting

Of all the people that I thought might betray their values to get in on the national Chris Christie love-fest, Bruce Springsteen was always on the bottom of the list. After all, he did write a letter to the Asbury Park Press on how Christie’s budget cuts were eating at New Jersey’s middle class.

So when Christie asked Springsteen to play at the new Revel casino at its opening on Labor Day weekend last week, most people dismissed it as unlikely given that Springsteen has shown no love for the Governor. As I wrote last week, the Revel in particular, with its bad labor policies, seemed an unlikely place for Springsteen to play given his values.

Well, we were all wrong. I’m not only outraged, as a huge Springsteen fan, but also deflated. Bruce has always been one of my musical and political heroes, who says what is on his mind no matter what is popular. This announcement makes me want to burn all of my Springsteen albums and go listen to some Tom Morello instead.

The full press release is pasted below the fold…

Bruce, Play AC – Just Not the Revel

It is the second Bruce-related post of the week. But, hey, it’s New Jersey.

Today, Chris Christie publicly called on the Boss to play the new Revel casino in Atlantic City.

“I think Bruce, if he’s true to his lyrics, would love the fact that the state used taxpayer funds to invest in this place to create jobs for working men and women,” Christie said.

Let’s look at what kind of jobs we paid to create.

Revel’s jobs are in many cases part-time and non-union, in contrast to the union jobs with good benefits at other casinos.

And they are “term contracts” which appear to be designed to discriminate based on age and to find ways to demote women not considered attractive enough.

That’s Chris Christie’s kind of workplace. But it’s not one that reflects Bruce Springsteen’s values, or New Jersey’s. So Bruce, come on back to AC – but play somewhere else.

Politics makes strange bedfellows as parts of Labor and the Tea Party come together

The financial rescue of an Atlantic City Casino has created an interesting pairing bringing splitting Labor and bringing a one union together with the Tea party:

The casino workers’ union, Unite HERE, and  Americans for Prosperity are allied, along with the local conservative group Liberty and Prosperity 1776, behind a “No Morgan Stanley Bailout” campaign, an effort to cast plans for a state rescue of the half-built Revel casino as a bailout of the Morgan Stanley, the investment house that is reportedly the casino’s main investor.

They union already has launched the website nomorganstanleybailout.org to highlight their opposition to the tax break the City is giving Revel on the proposed $2.5 billion casino project. This isn’t UNITE Here’s first attempt to stop the planned tax break. They sought to put the $300 million on the ballot as a referendum question but Atlantic City Officials rejected the unions petitions. Senator Lesniak got a bill passed unanimously through committee at the beginning of this Legislative session which would protect the tax break from a public vote as well. Here is the plan for the tax breaks:

The plan would require Revel to pay just 25 percent of its sales and room taxes over its first 20 years of operation, scheduled to start in 2011. Revel officials have called the funding “an important factor” in securing financing to complete its $2 billion megaresort.

Follow me below the fold for more on how the tax break came to be, who else is opposing and who is supporting the plan.