While I absolutely never spoke to New Jersey Governor Chris Christie on the subject of Senate President Stephen M. Sweeney’s legislation concerning the Taj Mahal, I agree completely with his statements. Unfortunately, as far as I’m concerned, Sweeney has already done irrevocable damage to Atlantic City specifically and New Jersey in general. After his irresponsible actions, we determined that we would not invest the $100 million to $200 million of capital we believed the Taj Mahal needed and that we would instead sell the Taj Mahal at a loss (if possible). I believe other large investors will similarly have no interest in investing significant amounts in Atlantic City or New Jersey as long as Sweeney is in control of the Senate.
A wise man once told me that the combination of power and irresponsibility in any person is extremely dangerous. Sweeney is quintessential proof of that statement’s truth.