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What Newly Signed Tax Bill Means For Atlantic City Casinos What Newly Signed Tax Bill Means For Atlantic City Casinos
What Newly Signed Tax Bill Means For Atlantic City Casinos State legislation giving tax breaks to Atlantic City casinos was signed into law by Gov. Phil Murphy on Tuesday night. The bill does not affect state taxes that casinos must pay on internet gambling, online sports betting revenue or in-person casino gambling. Those taxes range from 9 to 15 percent annually. Outgoing state Senate President Stephen Sweeney, a Democrat from Gloucester who sponsored the bill, said up to four of the city’s nine casinos might close without the new legislation, NJ Advance Media  reported. But critics said the casinos have enjoyed higher revenues due to sport…

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by Jon Craig
Sports
NJ Sports Betting Nears $1B Monthly Record NJ Sports Betting Nears $1B Monthly Record
NJ Sports Betting Nears $1B Monthly Record There's a silver lining during the coronavirus for sports bookies and online casino betting who neared a record $1 billion in legal gambling in November, analysts said. Year-over-year growth in New Jersey has been striking for what is now the nation’s largest sports betting market.  New Jersey became the first state in history to post a sports betting wagers of more than $900 million, as the Garden State’s online and retail sportsbooks put the first $1 billion month clearly in their sights in November, according to analysts for PlayNJ. “Even if New Jersey can’t quite reach $1 billion …

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by Jon Craig