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California (along with Florida and Nevada) was hit harder than anywhere else in the U.S. In the midst of the Recession, nearly two-thirds of the 50 states were teetering on the edge of bankruptcy. What a difference three years makes. State legislators now are busy arguing over how to spend a budget surplus estimated at up to $4.4
This effort has taken on an added sense of urgency in the wake of this month’s announcement by the luxury resort Revel that it is filing for bankruptcy protection. A federal law enacted in 1992 currently limits sports betting to four states — Oregon, Delaware, Montana and Nevada (where it’s a $2.9-billion
CATALIST FUND: Nevada recently authorized the use of $10 million in general fund money to spur economic development through corporate expansions and relocations in Nevada. Qualifying criteria include a commitment to doing business in Nevada, minimum job creation, capital investment, employee heath plans, and wage requirements.
CATALIST FUND: Nevada recently authorized the use of $10 million in general fund money to spur economic development through corporate expansions and relocations in Nevada. Qualifying criteria include a commitment to doing business in Nevada, minimum job creation, capital investment, employee heath plans, and wage requirements.
In what seemed like just a few days after ground was broken for the Revel, the specter of bankruptcy loomed over the entire project, which needed a state bailout of more than $200 million to be completed. to Nevada and a small part of Delaware.
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