New proof that Atlantic City casinos are doing well; near tax breaks | Casino

WAYNE PARRY Associated Press

ATLANTIC CITY – New Jersey lawmakers just days away from considering significant tax breaks for Atlantic City casinos, saying up to four are in danger of closure, state regulators released the latest evidence on Thursday that casinos appear to be doing well.

Figures released Thursday by the state’s Division of Gaming Enforcement show that the nine casinos collectively won nearly $ 440 million in November, up more than 52% from a year ago.

For the first 11 months of the year, casinos earned $ 4.3 billion, up almost 69% from the same period last year.

Of course, last year the coronavirus pandemic broke out, forcing casinos to close for 3.5 months. And even when they were allowed to reopen in July 2020, they were still subject to capacity limitations designed to try to prevent the virus from spreading.

Instead, the casino industry is using 2019 – the year before the pandemic – as a benchmark. And even this comparison shows that the casinos are doing much better this year, supported by sports betting and internet gambling winnings.

The $ 4.3 billion earned so far this year is still more than 34% more than the amount earned in the first 11 months of 2019.

Atlantic City Restaurant Week to continue in fall 2022

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The Senate and State Assembly are due to vote on changes to a state law governing how much casinos must pay in lieu of property taxes in Atlantic City, Atlantic County and the school system on Monday .

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