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New Jersey Lawmakers Pass Tax Breaks for Atlantic City Casinos

Dec. 21, 2021, 3:42 PM

The New Jersey Legislature advanced a plan to cut taxes for Atlantic City’s casinos by millions of dollars a year, sending the proposal to the desk of newly re-elected Gov. Phil Murphy.

The bill (S4007; A5587) would make various changes to payments in lieu of a property taxes program established in 2016. One of the most significant changes would exempt sports betting and Internet gaming—two of the industry’s fastest growing revenue streams—from the calculation of casino payments under the program.

The Senate voted 21-16 on Monday to approve the legislation. Hours later the ...