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. That rate is 8% on in-person winnings from gamblers at casinos, 13% for online sports betting, and 15% for internet gambling.
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. 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.” A dealer conducts a game of roulette at the Hard Rock casino in Atlantic City, N.J., on May 17, 2023.
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.
