Atlantic City Casino Tax Break Law Unfair To Residents, A Judge Rules
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The new deal between the casinos and the county does not take into account the wishes of Atlantic County officials. The earlier agreement came before the launch of legal sports betting in the state and before rise in online casino revenue. New law exempts sports bets and online gaming revenues from PILOT calculations. The agreement with the County does make such a distinction. Atlantic City's county executive says everyone should take a victory lap.
The new PILOT law violates the county's agreement. The county is expected to seek millions in damages to recoup the potential losses from the new law. The law was passed at the behest of outgoing state Senate President Stephen Sweeney and signed into law almost immediately by Gov. Phil Murphy.
Sweeney lost the election to Edward Durr. He testified that without the new PILOT tax break, four casinos could close. The Pilot deal was seen as a way for casinos to save money. Assemblyman Don Guardian opposed the bill because it would mean the county taxpayers would pay more. He said the casinos should abide by the deal they themselves had sought. It was a bad bet for them. They should pay for the rising PILLOT costs.
