Casino Reinvestment Development Authority

Mm.

I remember a video that someone from the Casino Reinvestment Development Authority had, 'cause you know we got the wrestling state championships there.

Mm-hmm.

And a 20-foot by 20-foot sheet metal, like, just fell off of it.

An interesting development, Atlantic County Executive Denny Levinson said, well, he could consider having the county loan money to the hotel, but only if the county is going to get paid back.

But basically, if you listen to the testimony of Tony Scanapico, the owner of the Sheraton, when he testified before the Casino Reinvestment Development Authority, he said that the hotel can't make money.

He said, even if we didn't have a nickel in debt, and I think they have $30 million of debt, he said, even if it was completely paid off, We cannot run a 500-room hotel without millions of annual operating subsidies paid by taxpayers.

So therefore, the county offering to bond, while well-intended, will not help.