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The casino industry has successfully motivated state lawmakers into removing the interactive gaming revenue from the PILOT calculation. The Atlantic City resorts argue that much of the online revenue is shared with third-party operators like DraftKings that have little or no physical presence in the casino beach town.<\/p>\n<\/div>\n
The casinos’ argument is essentially, “Why should we have to pay property tax on gaming revenue that’s going to companies not located in Atlantic City?”<\/p>\n
Former New Jersey Senate President Stephen Sweeney (D) championed the casino tax break. He claimed that as many as four Atlantic City casinos are in peril of closing without such affordance.<\/p>\n
Atlantic County, under the 2021 PILOT amendment, claims it will lose between $15 million to $26 million over the next five years compared with the 2018 consent. Since the original PILOT terms were struck in 2016, revenue from all gaming tied to Atlantic City casinos has been included in the property tax calculation.<\/p>\n","protected":false},"excerpt":{"rendered":"
New Jersey state attorneys are expected to appeal Superior Court Judge Joseph Marczyk’s February 25 order that ruled against the state’s amended payment-in-lieu-of-tax (PILOT) arrangement with Atlantic City casinos. Marczyk concluded last month that the state’s decision to remove iGaming and online sports betting revenue from the calculation used to determine how much the nine […]<\/p>\n","protected":false},"author":25,"featured_media":205367,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[81885,60],"tags":[],"acf":[],"yoast_head":"\n
New Jersey to Appeal Atlantic City Casino Property Tax Order<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n