Sean Pattwell, Executive Director of the New Jersey Casino Reinvestment Development Authority (CRDA), is reportedly set to resign, although it was not disclosed exactly when that would happen. Most likely, it would be by the end of the current year.
He took over the role on April 1, 2022. According to various sources, Pattwell plans to pursue other career opportunities in the private sector. He boasts a wealth of executive expertise, as well as a diverse educational background, with one bachelor’s degree, three master’s degrees, and a fourth underway. Previously, he had been occupied in the insurance industry.
Established in 1984, the CRDA is tasked with the mission of managing the spending of casino reinvestment funds aiming to facilitate the community. Back then, casino operators were given the choice to either contribute 2.5% of their gaming proceeds to the State or reinvest 1.25% through the CRDA in various projects in Atlantic City and across the state. Businesses have opted for the latter with no exception, although the proper allocation of the funds has been a questionable topic over the past couple of years.
Besides the proceeds from casinos’ gaming revenue, the CRDA is funded by other business activities including a 9% tax from hotel revenue, a 3% tax from alcohol sales, and a fixed fee of $3 per vehicle for an overnight parking lot, among others.
CRDA Will Begin Discussions for a New Executive Director
Although the CRDA Board of Directors carries out the discussions for the appointment of an executive director, it is the Governor’s Office that ultimately appoints the candidates. The new executive director will be appointed by Governor Phil Murphy.
Back in 2022, when the governor appointed Pattwell, he said in a statement that he was well-suited for the role of a leader of the CRDA. He added that the state agency played a vital role in “Atlantic City’s recovery from the economic impacts of the COVID-19 pandemic”. The governor’s press office has not commented on Pattwell’s expected exit yet.
For less than two years after Pattwell’s assuming the position of Executive Director, he has been identified as a silent leader of the state agency. A meeting of the CRDA Board of Directors was held this Tuesday, which Pattwell attended in person. However, he made no mention of his plans to step down from the role of Executive Director. The CRDA has not yet responded to requests for feedback regarding Pattwell’s leaving the job, either.
There is still uncertainty surrounding the timing of both events – Pattwell’s departure, and the appointment of a new candidate for the role of Executive Director. According to state records, the salary of CRDA’s Executive Director amounts to $175,000.