State Won’t Make Atlantic City Immediately Repay $62 Million

With the city staring at default, the state showed mercy Wednesday by not making the city immediately repay $62 million, even though the city violated terms of a state loan agreement. The state officially notified the city that the resort breached the agreement by missing a Monday deadline to initiate dissolution of its water authority, which was collateral for the loan.

Source: Press of Atlantic City

Posted on: October 6, 2016

Don’t bet on North Jersey casinos, poll says

Only 35% of respondents to a Rutgers-Eagleton poll released Tuesday said they supported a proposal to expand casino gambling to North Jersey.Fifty-eight percent of respondents disapproved of the plan.

Source: NJ.com

Posted on: September 20, 2016

Moody’s: New Tax Deal A Win For NJ

Credit-raters Moody's Investors Service said ending a tax deal with Pennsylvania that let people pay taxes where they lived, rather than where they worked, was "credit positive" for the state. I think that's bond-trader speak for "a good thing" for New Jersey.It would also raise taxes on low-income and moderate-income New Jerseyans, but let's focus on the positive.

Source: Philly.com

Posted on: September 13, 2016