Jim Kennedy

Steve Perskie has almost always been in the room where it happens. More often than not it has been Perskie who has z50 years negotiated the Statehouse - City-hall casino deals. It’s remarkable that one man was present at the casino industry creation and now sits there for its twilight.

The proposed DEEM $2.7 billion dollar Bader Field Motorsport Complex long ago failed the giggle test. The latest developer’s fix to the high speed motor fantasy is to add a $25 milłion housing unit. A $25 million dollar housing unit is not going to happen. It does not even tuch the edge of reality. A recent Spring Lake property (below) deal far outstrips any similar home sales along the New Jersey shore, and is the most expensive home sale in the state since 2022. Bader Field is never going to have the second most expensive site sold on the Shore.

Atlantic City Casino Industry has experienced a two decade economic decline. Casino’s reached their high-water market in 2004 with the Borgata opening. Casino employment since then has been reduced by half. An industry that still produces 18,000 jobs remains to be respected, it just shouldn’t ever be expected yo become the economic engine it was once was.

@JitneyGuy @jongeeting GOOD POINTG… the. memo is from CRDA board actions but there is not CRDA money in any of the deals

@ACEconPolicy @jongeeting Why do you call them “CRDA projects?”

Atlantic City has three major, CRDA projects under creating 750 townhomes and apartment- includes a 150-unit townhome project near Ocean Casino 180unitKushner development in the Inlet area and 150 units near the Stockton University campus. The three separate projects will develop a greater number of new housing than was built in all of AC over the past decade The simultaneous development of three separate projects that target the same customer base could require 3 to 5 years absorption Three separate projects constructed at the same time will make for a challenging market. It has the potential for market collapse.

The Atlantic City Irish Pub since 1972 hasn’t missed a Saint Patrick’s Day. This year it looks like for the first time it will be dark. The Pub closed January 11th for repairs and deep cleaning. The Pub doesn’t look like it will reopen in time for the holiday. The Irish Pub closed is a loss to the city. A pop up inflatable IRISH PUB/ beer garden in place for the summer would be a significant back up.

The new White House banquet hall wing is the same as a wart on a fashion model’s face. Only the Trump mind -that three decades ago gave us the Taj Mahal Casino - could propose such a massive block of white space which overwhelms the White House West Wing. Only the British in 1814 have done the White House more harm.

January saw almost 4x the “Yet let's be content & the times lament, you see the world turn'd upside down.”- old English Ballad

Hard Rock is looking at a potential embarrassment of riches. Casinos in AC, NYC and Meadowlands. That is if Hard Rock wants a 3rd casino. The NYC casinos are being built to redirect NJ casino revenue. The Meadowlands would direct it back. Hard Rock has some really great business minds…. This will be interesting watch to sort out

Food insecurity is defined by limited or uncertain access to adequate, nutritious, and safe food, often due to insufficient money or resources. . 2024 Feeding America "Map the Meal Gap" study finds that the 2. New Jersey counties with the highest estimated rates of food insecurity are: 1Cumberland County: 13.1% 2Atlantic County: 12.2% – 13.3% It is more than a little ironic that western Atlantic Cumberland and Salem county which are all that’s left of the garden in Garden State.

SOUTH JERSEY county unemployment rates are substantially higher than the balance of the state. Based on the most recent available data (primarily from mid-to-late 2025 and early 2026 reports), the New Jersey counties with the highest unemployment rates are concentrated in the southern part of the state. •Cape May County: Frequently ranks highest, with rates reaching upwards of 9.5% - 11.2% in 2025/2026 data, largely driven by seasonal tourism. •Cumberland County: Consistently holds one of the top two spots, with unemployment often reported between 6.7% and •Salem County: Typically ranks among the highest, with rates in the 6.0% - 7.3% range. •Atlantic County: Frequently sees high unemployment, often greater than 5.2%.

@dahamr @GDB541374297650 Yup.

@GDB541374297650 @ACEconPolicy I think having the tech operations in JC makes sense, it spreads the wealth around instead of being concentrated in AC. Plus, the location, draws from a bigger talent pool. Just one more reason that gambling should not be permitted in the Meadowlands

Jersey City is New Jerseys SportsBetting industrial hub with six separate employers and roughy 2,500 jobs. Key employers include BetMGM with over 1,400 employees. Fanduel has over 400 jobs. Jersey City is SportsBetting’s big winner…. Atlantic City was far less so. Jersey City’s SportsBetting is an example of the ‘Matthew Effect’ which describes a phenomenon where a sites initial advantages (wealth, status, skill) accumulate over time, allowing the "rich" to get richer while the "poor" get poorer. Derived from a biblical parable.

Jersey City hits the 2026 World Cup jackpot. BetMGM and Fan Duel are located there. The 7 day Fan Festival will is located there. FIFA Fan Festival could play out as a virtual casino…. Or with a couple thousand cell phones the world largest sports betting site.

Governor Sherrill in her Inaugural Address stated she heard “South Jersey, where you want jobs, transportation investments, innovative businesses, and not to be forgotten or left behind.” Based on recent data from sources like Wikipedia and 24/7 Wall St., the five poorest counties in New Jersey are primarily South Jersey located. Cumberland County, NJ, is consistently identified as having the poorest economy in the state. Atlantic County has the second poorest economy. South Jersey’s poverty is deeply rooted in a long history of economic exploitation, geographic isolation, and underinvestment.

"History, sir, will tell lies as usual."  This cynicism comes from George Bernard Shaw's 1897 play The Devil's Disciple, specifically Act III, spoken by the character General Burgoyne. The attached is GOOGLE AI spin on Senator Bill Gormley’s AC 2.0 Redeployment efforts. From someone that was there at the creation…. AI just about nailed it Just include Mayor Whelan’ critical role and the smaller contributions of hundreds and AI does a better job than the recent ‘Son of the City’ at a cost of less trees.

Hard Rock NYC has been granted approval by the sites CommunityBoard. Hard Rock to be built adjacent to Mets Stadium blows What is left of AC off the beach. Jim Allen all but begged AC to offer a competitive product. He was completely dissed.

City Council introduced an ordinance Wednesday that would borrow an additional $15.7 million bond toward settling PILOT litigation regarding the 2021 amendments to the casino payment-in-lieu-of-taxes law. The Casino PILOT tragic comedy “ends not with a bang but with a whimper. The PILOT final settlement digs the City out of a State bail out of its $15.7m one last cash grab. The Casino PILOT is an unconstitutional solution of the city holding the casinos harmless from a property tax fueled expenditure of funds. City Hall has managed to pull off a scheme that has no city moral risk.

Atlantic County spend $820.14 hundred million in tourism dollars. Cape May spending was $8.1024 hundred million. AC has nine casinos. Tourism spending edges out Cape May by a fraction less than $100 million. visitnj.org/sites/default/…

Atlantic City has state’s highest poverty rare (37..7.). It takes a lot of benign neglect, bad public policy and even hard work to get there.