Casino Project Stalled
12th January, 2009
The proposed Atlantic City Casino and Beach resort construction project has been stalled after concerns over the current economic climate. The $2 billion project has been put on hold for two years whilst the US economey attempts to re-establish its self after 6 months of unrest.
The new Hotel and Casino would contain to the 2,000 new rooms, the biggest gaming area in the city and a Manhattan style Sky Scraper. Developers withdrew the plans hoping to begin construction in a few years time.
Curtis Bashaw, an Atlantic City and Cape May hotel developer said, "The partnership spent a great deal of time evaluating a lot of options for the Gateway site,"
"Before committing to a specific option, the partnership felt the prudent thing to do was to wait and see how the market unfolds in the next 12 months or so."
MGM Mirage have also got a 1.5 billion proposed casino planned for Atlantic City.
By Jamie
