R&D from Prepd: Atlantic City’s Fiscal Woes

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This R&D provides resources on Atlantic City’s fiscal problems.  The city was once one of the premier gambling locations in America, symbolizing an East Coast version of Las Vegas.  The legalization of gambling in surrounding states, though, has led to significant fiscal problems, as the city has lost half of its gambling revenue since 2006.  Last month, New Jersey Governor Chris Christie appointed Kevin Orr as a part-time legal adviser for an emergency management team that is trying to address the city’s problems.  The team is headed by business restructuring lawyer Kevin Lavin.

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