On Monday, February 28, the Meadowlands Regional Chamber announced its proposal to redevelop the Meadowlands Sports Complex with a new casino, convention centre, conference centre, six hotels, and a recommendation of a water park, spa, theatre and museum

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An article by Evelyn Lee on njbiz.com has quoted Meadowlands Regional Chamber CEO Jim Kirkos as saying, “We almost have to build a casino in the Meadowlands to save [New Jersey's] gaming industry.”

The report explains that the cost of the project would be $1.5 billion, but the concept of the undertaking is that it would be funded by private investors. Kirkos was cited as saying that, “in order to attract that investment, we need to create the desire,” and that “We believe a plan like this would create the nucleus of that investment.”

The article explains that the plan would be contingent on Xanadu being redeveloped, the racetrack being taken over and operated, and legislation authorizing a casino being passed and signed into law.

(With files from njbiz.com)

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