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Saturday, jun 29
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Atlantic City casinos
News
$2.4M Eagles Ticket Scam: Ex-South Jersey Lawyer Gets 4 Years In Fed Pen
A disgraced South Jersey attorney with a confessed gambling habit must spend the next four years in federal prison for conning an investor out of $2.4 million in a loan scheme involving supposed Philadelphia Eagles season ticket holders. Frank N. Tobolsky, 60, of Cherry Hill told the Delaware investor that he was funding loans for clients using season ticket licenses as collateral, an indictment returned in U.S. District Court in Camden says. U.S. Attorney for New Jersey Philip R. Sellinger said Tobolsky put a "substantial portion" of the $2.4 million toward personal expenses, some of which…
News
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…