It will be challenging for city officials to identify the cuts needed within five months to balance their budget. Refinancing its debt would be a big help.
The group devoted to promoting Atlantic City to the conference and meeting market claims the current situation is having an impact on the industry that's bordering on disastrous.
“If they come up with something, great,” Christie said of a legislative compromise. “If they don’t, then bankruptcy would be the only option. And while I would regret having to go down that road, it is a road that I will have no choice but to go down.”
A crucial vote is set for Thursday in the Assembly, which is pursuing its own alternative to an Atlantic City takeover as default or bankruptcy inches closer.
"It's a bad move. I don't trust the state period," said Geoff Rosenberger, a real estate agent who's in the process of moving back to Atlantic City. "We know it's not going to be good."