Christie expected to name emergency manager for AC

Despite initial protests by Atlantic City officials, Gov. Chris Christie is expected to announce the appointment of an emergency manager to oversee the troubled resort town's finances.

The recently closed Showboat and Revel Casinos in Atlantic City. (Jessica Kourkounis, Getty Images)

The governor will make the announcement Thursday, when he joins AC officials for the third summit to discuss the city's future.

When the idea of having an emergency manager put in place was first brought up during the second Atlantic City Summit, Mayor Don Guardian and city officials opposed the idea of having a "czar" that would usurp the local government's power.

State Sen. James Whelan, (D-Atlantic) told the Press of Atlantic City he believes Christie will appoint Kevyn Orr as the emergency manager for Atlantic City. Orr "held a similar position while overseeing Detroit’s finances while the Michigan city restructured itself in bankruptcy," the publication reported.

It is not yet known how much control the state will assume over Atlantic City or which of the city's departments will be impacted.

The emergency manager position can be handled through an appointment by the governor, but additional efforts to help the struggling city rebound in the wake of several casino closures and thousands of job losses must go through the NJ Legislature.

State Sen. Tom Kean recently unveiled legislation that would waive the payment of state income taxes for any big-name headliners who appear four or more times in Atlantic City during the course of a year. The senator said New Jersey needs to focus on ideas that can help Atlantic City along with the entire state. This comes on the heels of news that the gambling resort has lost half of its revenues over the last eight years.

Joe Cutter contributed to this report.