Solution for Bankrupt Casinos in Atlantic City - More Casinos

Atlantic City Casinos are shutting down, some even filing for bankruptcy, but that’s not stopping a push for a new casino in Jersey City.

It’s said that the plan will bring in $5 billion in investments and create an estimated 25,000 jobs. It will include not only a casino, but also a hotel, convention center, racecar track and the world’s largest observation wheel.

That’s at least what supporters say about the development.

But the facts are hard, even impossible to pin down, because very few people connected to the plan will talk, from the developer, billionaire founder of Reebok Paul Fireman who also owns Liberty National Golf Club near the proposed site of the casino to Jersey City's mayor Steven Fulop.

What would building a shiny new casino, and a massive 95-story skyscraper, right across the river from Manhattan, mean for the increasingly troubled casino industry in Atlantic City? And what does it mean for New York as it rushes to select sites to build four new casinos, some possibly as close as 60 miles to New York City.