American Dream, the megamall in New Jersey’s Meadowlands, has seen its losses increase fourfold in one year, according to a draft securities filing.

The 3.5-million-square-foot shopping and entertainment complex, home to an indoor ski slope, amusement park and water park, lost about $245 million in 2022 as expenses almost doubled to $428 million, according to the three-page document posted Monday to the Municipal Securities Rulemaking Board’s EMMA website. Financial expenses, which typically include debt service payments, ballooned to $189 million.

Kristen Buckley-White, an American Dream spokesperson, didn’t respond to a request for comment. 

American Dream, which has faced construction delays, pandemic shutdowns, and a fire that closed its indoor ski slope for several months, has struggled to manage its debt.... Read More: Financial Post