The Borgata case was the among the most daunting issue facing Atlantic City, which has suffered as its once-booming gambling industry began to fall to competition in other states. The legislation Christie ultimately signed gave the city 150 days to make a plan for its financial recovery - a task the state said it failed to achieve. “The city administration, despite all the time and opportunity given to them failed to accomplish this goal as they have with so many others.”Ĭhristie and lawmakers fought for months last year over a plan to help Atlantic City get back on a better financial footing, even as it came dangerously close to defaulting on its debt and laying off employees. “This settlement has been one of my administration’s priorities since Atlantic City’s fiscal crisis forced us to assume control of operations there in November with a plan to stabilize property taxes and return the city to a sound financial footing,” Christie said in a statement.

The city had owed $165 million under judgments and claims covering a six-year period, during which the casino said it had overpaid property taxes. The state, which took over the city government last year, said Borgata Hotel Casino and Spa had agreed to settle the case for just $72 million.

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