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New York real estate mogul Jeffrey Gural wants to build a $1.3B casino in northern NJ—but NJ voters aren’t so sure.
NJ lawmakers agreed in January to have a ballot referendum this fall over the proposal to expand casinos into the northern part of the state, the Wall Street Journal reports. But many residents, after seeing the financial havoc in Atlantic City, are asking themselves: Do we really want these problems in our town?
Business leaders from southern NJ have vowed to vigorously lobby against the referendum, saying they're afraid northern casinos would destroy southern Jersey’s economy. And Fitch Ratings agrees with them—the firm says a northern gambling expansion could lead to the closure of up to four Atlantic City casinos. [WSJ]
