[Submariner]

The biggest issue here is the already over-saturated NE gaming market.

Within a three hour drive of NYC, you currently have Empire Raceway, Atlantic City, Mohegan Sun and Foxwoods (still some of the largest casinos on the planet), Sands Bethlehem, and a few smaller, less noteworthy properties. Northeast casinos have already taken a severe hit to per property revenues, caused by a proliferation of of casinos and the post-2008 economic slump. That drain will be even more pronounced when MGM and Wynn properties come online in Massachusetts within the next few years.

A North Jersey casino would have to feed heavily on the NYC market, which already has numerous resort destinations available to it. Creating a luxury "destination resort" with downtown NYC in full view isn't a destination at all, and spending that much money on what (economically and financially) should be a slot parlor, doesn't make much sense.

But that's just me. It would be nice to see a non-gaudy 1000 foot tower and redeveloped meadow lands, but I'm not sure that it can be justified in the market, as it were.