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the mountaineer casinoLast month, Fitch issued a negative credit outlook on approximately 0 million of Casino Reinvestment Development Authority (CRDA) luxury tax revenue bonds.The CRDA is funded through flat nightly hotel room and parking fees, plus a 1.25 percent Investment Alternative Tax on gross gaming revenue (GGR). Officials in Atlantic City are becoming increasingly alarmed.We have the potential of an Armageddon in Atlantic City,” City Council President George Tibbitt told Politico.Bob McDevitt, president of the casino workers’ union Unite Here Local 54, added, “This is akin to having a steel mill town and the steel mill shuts down.”Layoffs UnavoidableThe nine Atlantic City casinos employed 26,450 people as of March 1. 1 being a sustained reduction in new COVID-19 cases and hospitalizations, something that isn’t being seen across the Garden State. wild casino free chip code(Image: Nasdaq)McKenzie’s SBTech, a provider of sports wagering technology solutions, was part of the reverse merger through a “blank check” entity known as Diamond Eagle Acquisition. Phil Murphy (D) ordered the casinos to close in mid-March.Murphy’s “Road Back Plan” includes six principle steps, No. Once economic recovery takes hold, resiliency is expected to improve, but will likely fall short of historical levels.”AC on Life SupportAtlantic City’s nine casinos had reported 21 straight months of GGR gains before the coronavirus hit. draftkings casino match

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