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Atlantic City Introduces Proposed Bill to Help Casinos

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December 02, 2014

Two lawmakers from New Jersey announced on Tuesday a proposal that would help Atlantic City casinos. The plan would give tax breaks to the city's eight remaining casinos.

Sen. James Whelan and State Senate President Steve Sweeney are behind the plan.

The bill would allow for $150 million to be paid by the casino instead of taxes for the next two years. It would allow for the debt to be paid down $25 to $30 million each year.

Four of the city's casinos have already closed this year. The financial state of the remaining casinos remains uncertain. The city relies on the taxes that are collected from the casinos.

If the bill is approved, the amount of money the casinos must pay in taxes is reduced. Atlantic City would also know in advance how much will be paid regularly in taxes.

Return to New Jersey Casinos.

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