Meh, they're not making any money off of it. It helps downtown a bit but doesn't do jack for anywhere anyone actually lives, maybe a small exception for the Ironbound. They would have blown the money the state gifted them any way they used it, though.
Booker is not a stupid man. He knows that publically financing the construction of buildings like this do not fill the city's coffers with cash. In fact, just about anything the City could have done with the $210 million payment they received from the Port would have been a better investment over the life of the building. However, the arena makes Newark somewhat relevant again, especially since the arena is one of the top venues in the country. It's supposed to be a magnet for investment in the area around the arena. The fact that this largely hasn't materialized is Booker's biggest problem, not the lack of "rent" they receive from the Devils as a result of this arbitration award.
He is looking for someone to blame for the lack of investment save a few bars and the hotel around the arena itself, on top of the fact that the City, which is basically pennyless, must now pay the Devils $600,000 in the next 30 days per the ruling.
He went on and on about KVB's broken promises, but never touches on the breach of contract from the city's end regarding their failure to construct triangle park. They've wasted millions designing and re-designing that damn park, when they could have easily laid sod and planted trees with nice paver walkways lining the park for the money already spent. Total municipal corruption at its best, much like how they're pissing away the $100 million Zuckerberg gifted the City.
He knows full well that the people he is pandering to are completely uninformed regarding the facts of this deal, and is simply trying to make cheap points in the court of public opinion with his fake anger. F Corky and the band of misfit that run that City.