responded to the state audit<\/a> by blaming the legislative changes, specifically the loss of the Investment Alternative Tax, for throwing the agency into chaos. He added that the authority was forced to reprioritize its programs and downsize staff, both of which led to management challenges.<\/p>\nAs for the New Jersey sports betting tax, the CRDA of course welcomed the new funds.<\/p>\n
“After a three-year hiatus, we are looking forward to filling the void with much-needed promotion of Atlantic City as a world-class vacation destination,” CRDA Director of Communications and Marketing Larry Sieg explained. “Our team looks forward to having the opportunity to once again get the ‘DO AC’ brand into the consumer market to increase visitation and economic impact.”<\/p>\n","protected":false},"excerpt":{"rendered":"
The New Jersey sports betting tax on gross win is increasing 1.25 percent beginning in December, and the added funds will be earmarked for the state’s Casino Reinvestment Development Authority (CRDA). When the added tariff goes into effect, sports wagers placed at Atlantic City casinos or parimutuel racetracks will be taxed at an effective rate […]<\/p>\n","protected":false},"author":25,"featured_media":90054,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[10,13,18,1074],"tags":[],"acf":[],"yoast_head":"\n
New Jersey Sports Betting Tax Increases, Funds Earmarked for CRDA<\/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