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

The NGKF chairman hopes to bring gambling closer to NYC

New York /
Jun.June 07, 2015 03:30 PM

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


Related Articles

arrow_forward_ios
Wynn Resorts and MGM Resorts International in Las Vegas (Credit: Wynn; Nadavspi~commonswiki via Wikipedia Commons)

Wynn, MGM close Las Vegas casinos over coronavirus concerns

Wynn, MGM close Las Vegas casinos over coronavirus concerns
Governor Andrew Cuomo, Assembly Speaker Carl Heastie and Queens Sen. Michael Gianaris (Credit: Getty Images, iStock)

Pols shunning real estate donations welcome casino giant’s cash

Pols shunning real estate donations welcome casino giant’s cash
Governor Andrew Cuomo (Credit: Getty Images)

Cuomo rakes in real estate cash — but not from LLCs

Cuomo rakes in real estate cash — but not from LLCs
Westchester & Fairfield Cheat Sheet: MGM inks $850M Yonkers casino and raceway deal, architecture firm HLW heads to Stamford … & more

Westchester & Fairfield Cheat Sheet: MGM inks $850M Yonkers casino and raceway deal, architecture firm HLW heads to Stamford … & more

Westchester & Fairfield Cheat Sheet: MGM inks $850M Yonkers casino and raceway deal, architecture firm HLW heads to Stamford … & more
Gural family’s GFP planning $240M biotech center in Long Island City

Gural family’s GFP planning $240M biotech center in Long Island City

Gural family’s GFP planning $240M biotech center in Long Island City
Westchester & Fairfield Cheat Sheet: MGM bets big on Empire City Casino, Yonkers Raceway … & more

Westchester & Fairfield Cheat Sheet: MGM bets big on Empire City Casino, Yonkers Raceway … & more

Westchester & Fairfield Cheat Sheet: MGM bets big on Empire City Casino, Yonkers Raceway … & more
MGM Resorts to buy Yonkers casino

MGM Resorts to buy Yonkers casino

MGM Resorts to buy Yonkers casino
(Credit from back: AJFU, Pixabay)

Lucky Dragon hotel and casino is searching for a buyer as its prepares for onslaught of guests

Lucky Dragon hotel and casino is searching for a buyer as its prepares for onslaught of guests
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...