![]() ![]() ![]() On Tuesday, Mark Giannantonio, president of Resorts casino and of the Casino Association of New Jersey, said the full 10-year extension originally provided for in the bill is crucial to the casinos’ ongoing operations. But as popular and important casinos were to the city, hotels played just as big of a role in Atlantic City's storied. It's a sad saga of a city that was once the East Coast mecca of gambling and grandeur in the 1940s and 1950s. That rate is 8% on in-person winnings from gamblers at casinos, 13% for online sports betting, and 15% for internet gambling. And in a cruel twist of fate, the city owes its biggest hotel and casino resort, the Borgata, more than 170 million. New Jersey lawmakers on Tuesday, June 27, 2023, moved closer to extending New Jersey’s internet gambling law for another 10 years. There was some speculation among Atlantic City casino and political officials that the move might represent potential leverage over the city in terms of possibly raising the amount of gambling taxes collected by the state in the future. The Hard Rock casino, left, Showboat hotel, center, and Ocean casino, right, are shown on Jin Atlantic City, N.J. Although not the 10-year window the bill’s sponsor originally intended, this adjustment still allows for the sports betting industry to grow and thrive in New Jersey with a five-year security in its operating ability.” The Chamber of Commerce of Southern New Jersey praised the latest change, saying the business group “is incredibly pleased that the General Assembly shifted away from a drastic and unexpected two-year internet gaming reauthorization through 2028. ![]()
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