New Jersey Challenges Court Ruling on Casino Tax Relief
The New Jersey government is contesting a judicial ruling that halted the implementation of a recently enacted casino taxation statute. This legislation would have provided some tax relief to casinos, a measure the state claimed was essential for the success of both the casinos themselves and the overall economic well-being of Atlantic City.
The new law has garnered strong support from Americans for Prosperity, a pro-business advocacy group. They contend that the judge’s determination was rooted in sentiment rather than objective evidence, and that reducing the tax burden on casinos will ultimately benefit all residents of Atlantic City by stimulating economic growth.
Christopher Glaum, the director of the gaming regulation department, cautioned that if the modification is invalidated, the initial legislation would be reinstated. This might result in a discouraging impact on reinvestments in casino resort assets, akin to the period between 2009 and 2017. Glaum stressed that this would carry severe financial and societal ramifications for the whole state, not merely Atlantic City.
