Xanadu

A group of investors led by Colony Capital may pass on the high-profile Xanadu real estate project in New Jersey to creditors, The Wall Street Journal reported. The clock is ticking towards an Aug. 9 to meet a deadline set by creditors including Capmark Financial Group, The Wall Street Journal...

New Jersey's Chris Christie is preparing to announce sweeping plans to overhaul Atlantic City's casino district, just one part of a set of proposals that would mark the biggest changes to the state's gaming industry since gambling was legalized.

Xanadu, the gargantuan New Jersey entertainment and retail complex, could be toast. Less than a year ago, analysts were arguing that the project was "too big to fail," but the state of New Jersey may be considering a move to seize the land as the developer struggles to find new financiers.