Jeff Gural continues push for $1 billion N.J. casino

Newmark Grubb Knight Frank chairman Jeff Gural met with a dozen elected officials at the Meadowlands Racetrack in East Rutherford, N.J., Thursday to continue his push for a $1 billion casino at the racetrack.

Officials are considering putting a referendum before voters this fall that would expand gambling to northern New Jersey and pave the way for Gural’s mammoth casino.

And in a surprise move, State Assembly speaker Vincent Prieto attended the meeting to show his support for Gural’s vision, according to the New York Times. Gov. Chris Christie has also shown support for a casino in the northern part of the state – although he did not attend the recent meeting.

Even as Atlantic City flounders, some officials hope to bring gambling closer to New York City.

Gural claims that with more than 14 million adults within 50 miles of the racetrack, his proposed Hard Rock Casino could generate $400 million a year in tax revenues. A large portion of that money would go towards reviving Atlantic City.

“This is not a fight between North Jersey and South Jersey,” Gural said. “This is about what’s good for the state of New Jersey.” [NYT] – Christopher Cameron