Around the State
Atlantic City casino wins continue decline
AtlAntic city’s 11 casinos continued to hurt in november, and their combined revenue of $299.3 million was 13.4 percent
lower than the $345.5 million of a year ago, according to the new Jersey casino control commission.
november’s drop in casino revenue is consistent with the trend for the first 11 months of the year, where they collectively
reported $3.67 billion, down 13.5 percent from that in 2008, the commission reported.
Trump Plaza had the worst showing in november, with a 26 percent fall in casino wins, to $14.7 million, while the Show-
NJBIZ File Photo
boat did the best, with only a 1.9 percent revenue drop, at $25.6 million, according to the data.
the Borgata reported the highest casino revenue for november at $52.5 million, which was 8 percent off its november
2008 winnings. - Shankar P.
First major New York, N.J. man said, but beneficiaries never at Mountain Development. While
tunnel contract awarded
received any death benefits, and it
became apparent that no life insur-
the company has typically acquired
distressed properties to reposition,
Deals around the state
ance policies had ever been issued. “we’re expanding to purchase exist- n Pharmacy benefits manager Medco Health Solutions Inc., in
NJ Transit has awarded the first ma- Instead, Dombrowski and Lo- ing stabilized assets,” he said. Bank Franklin lakes, said it acquired Shop-Apotheke.com, a German sell-
jor contract in the development of crotondo made “similar false repre- of America “is a good tenant that will er of over-the-counter medicines, for undisclosed terms. the deal is
its $8.7 billion Mass Transit Tunnel sentations” to a third-party financ- provide good cash flow.” – Evelyn Lee expected to close in January.
running between New York and New ing company that forked over $15
Jersey, the agency announced.
The $583 million contract was
million to an account controlled by
Dombrowski. Nearly $2 million of
Former builder pleads n Pharmaceutical company Celgene Corp., in summit, said it ac-
quired privately held Gloucester Pharmaceuticals Inc., in cam-
awarded to a joint venture of Judlau that money was diverted for his own guilty to tax evasion bridge, Mass. for $340 million cash plus $300 million in future mile-
Contracting Inc., of College Point, use, Fishman said. stone payments.
N.Y., and Barnard, of New Jersey, a The pair allegedly defrauded a The owner of a former Bridgewater
part of Barnard Construction, of New Jersey factoring company out of home renovation business pleaded n Authentidate Holding Corp., in Berkley Heights, said it raised $3.4
Bozeman, Mont. The contract cov- $1 million by selling the firm rights guilty in federal court to failing to million through a direct placement, and will issue warrants for an
ers tunneling of a mile-long seg- to nonexistent accounts receivables report more than $360,000 of busi- additional 3.4 million shares at $1 each. Authentidate is a provider of
ment 120 feet below street level arising from the nonexistent com- ness revenue on his federal tax electronic health care information exchange services.
from a shaft at Manhattan’s 12th Av- missions owed to Locrotondo for return, according to U.S. Attorney
enue and 28th Street, according to the sale of the fake life insurance Paul J. Fishman. n Agilence Inc., in camden, said it raised $2 million in total funding
NJ Transit. Construction work will policies. – Martin C. Daks In his plea, Anthony Palmisano, from NextStage Capital, Granite Ventures and Schneider Electric
begin early next year and continue 62, the former owner of Cerra Build- Ventures. Agilence is a provider of loss-prevention solutions to the
ers, admitted to understating his in- retail industry. – João-Pierre S. Ruth
through late 2013, it said.
The rail tunnel aims to more
Mountain Development come tax liability by a total of about
than double peak service into New buys Glen Rock building $76,000 during the 2003 through 2005
York, according to NJ Transit and the tax years, Fishman said last week. company said. Three massive trans- its revenue rose 10 percent, to $71
Port Authority of New York and New Clifton-based Mountain Develop- “Palmisano admitted that he formers help manage that on the two million, in that period.
Jersey. Gov. Jon S. Corzine said the ment Corp. said last week an affiliate diverted the business receipts into systems serving the region — the PJM, “Every operating segment re-
contract is expected to create about had closed on the acquisition of 208 personal bank accounts that he con- for Pennsylva