Not if you're talking about transferring private property into the hands of private entities in order to enrich said private entities. If you're okay with the premise, all you're debating is which private enterprises should be the recipients of eminent domain benefits.
Canals, roads, highways, military installations, harbor improvements, etc. have all required the legitimate application of eminent domain and just compensation to the property owners for the PUBLIC good. I disagree with it being used to serve the interests of a private interest and, knowing how Atlantic City works, the aroma of public corruption and pay offs.