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Palmieri Out. Major Shake-up at CRDA, Casino Reinvestment Development Authority.

crda palmieri
CRDA Leadership

As we predicted last week…. it’s a major SHAKE-UP at the CRDA > After 5 years on the job, John Palmieri is leaving the top post at the Casino Reinvestment Development Authority, better known as the CRDA.

According to the Press of Atlantic City…..the CRDA board made it official today: John Palmieri is stepping down as executive director.

john PALMIERI crda
John Palmieri

The Casino Reinvestment Development Authority was created to boost the economy of Atlantic City

CRDA will lose $18m a year in funding…from shrinking casino taxes starting next year. This played a role in the decision to step down, Palmieri says.

Christopher Howard; the CRDA deputy executive director, will take Palmieri’s place. He’ll have a 2-year contract worth $175k per year.

The CRDA uses a percentage of casino revenues for Atlantic City’s residential, commercial, cultural, and social landscape.

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  1. Sounds like another vacancy at Bella. Maybe Mr. Palmieri will leave town on the pirate ship removed from the former Sands’ lot.

    1. Seems like he will, with parting gifts (severance pay) equal to a year’s salary worth $225k, for a total of $1,350,000 for five years work. Not a bad gig, but with money being redirected from CRDA to the city, I guess it’s time to sail off into the sunset.

      As a temporary legacy to AC, how about leaving behind around $150k of that money which should be enough to run the light show on Boardwalk Hall for a year? After spending a reported $3 million on that display, it’s sad to see the original money wasted due to a lack of funds.

  2. He enriched himself and his cronies while leaving the taxpayers $15.00/hr Boardwalk ambassadors. One huge failure.

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