Casino Reinvestment Development Authority (CRDA) get a new head

Only months after the resignation of Gov. Christie and the CRDA is getting a new head. Indeed, Christopher Howard just resigned from his exect. Director position. Following the news, Gov. Phil Murphy hired Howard’s replacement Matt Doherty. Matt Doherty’s new function will start just a bit before July 1st. As for all public leaders, Doherty’s salary was made public. And he’ll earn $25,000 more a year than its predecessor for the same role.

No formal announcement from either part.

Gov. Phil Murphy has not yet made an official announcement about his latest recruit. Nor did Howard comment on his next challenge. Which leads the press to speculate that a change of political party, from Republican to Democrat, may have driven Howard to look for a new challenge. Additionally, some even say that Howard’s move was not planned at all. It’s worth knowing that Howard started his position in January 2017, and Gov. Chris Christie recruited him back then.hard rock casino

Howard, a key player in the Hard Rock project.

The exect. Director is leaving his role at an exciting time has 2 new casinos are re-opening partly because of him. Indeed, in case you didn’t know Howard was a key player in creating an entertainment-retail district for the Hard Rock. And the Hard Rock will re-open this summer. Thanks to this deal an extra $2.5 million in revenues is forecasted for 2018.

Who are the CRDA?

In short, the CRDA is an authority that facilitates the economic development in Atlantic City. According to their site, they leverage assets with investment capital to redevelop projects across AC. In every day’s terms, they manage a part of the tax paid by casinos. In case you didn’t know, in 1984 the government gave casinos a choice. In essence, they could either pay 2.5% of their revenues to the State or reinvest 1.25% of it through the CRDA. The CRDA therefore managed the 1.25% and re-invest it in the community across multiple projects.
Which leads us to believe that a change of head, could also mean a change of vision. And who knows maybe even more exciting project. Let’s see.