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The 78-year-old Chet Krause, who purchased the New Jersey event only last year, made a surprise announcement to staff on June 26.

Ted Jones, promoter of the Atlantique City fairs, admitted even he had had no prior knowledge of the impending transaction. “It was quite a shock,” he said. “I didn’t know anything about the sale until it was announced. I understand the new owners visited the March show and were favorably impressed ... I am looking forward to working with (them) and don’t see any down side to the purchase.”