In New Jersey and the City Council for Atlantic City has reportedly thrown its weight behind a call for the seaside community to receive a larger percentage of the state taxes its casinos pay on their sportsbetting revenues.
According to a report from The Press of Atlantic City newspaper, the nine-member body passed a resolution on Friday in support of a proposition first floated by Atlantic City Mayor Marty Small Sr that would involve state lawmakers redirecting a 1.25% sportsbetting revenue tax to the city for the purposes of funding public safety programs.
The newspaper reported that this 2018 tax is currently accessed alongside others against revenues generated by Atlantic City’s sportsbooks and their online partners with all of its proceeds going to support marketing schemes run by the Casino Reinvestment Development Authority.
The Press of Atlantic City reported that the NJ city is unhappy that it does not receive any of these proceeds although the same system does gift funds to the host communities for the sportsbook-friendly Monmouth Park Racetrack and Meadowlands Racetrack.
Forty-five-year-old Small has reportedly chastised state lawmakers for this disparity and even went so far as to testify before a New Jersey General Assembly committee that was investigating the matter. The Democratic mayor purportedly told state legislators that his city needed this cash in order to offset losses from its rateable base.
Small reportedly told the newspaper…
“We’re not asking for anything that no one else gets. That’s going to be the fight. I represent the taxpayers. My number-one priority, and it always will be, is to stand and fight for them.”
The Press of Atlantic City reported that the Casino Reinvestment Development Authority has received approximately $1.6 million from the 1.25% sportsbetting tax since 2018 while the host New Jersey counties and municipalities for Meadowlands Racetrack and Monmouth Park Racetrack have together netted almost $2 million.
Written by Adam Morgan.
View the original article at here.
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