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Tax Break For Atlantic City Casinos
Wednesday December 03,2014 : NEW JERSEY TO OFFER TAX BREAK TO STRUGGLING ATLANTIC CITY CASINOS
Legislative proposal introduced to allow a flat tax fee for two years.
It appears that the pleas for tax breaks by struggling Atlantic City land casinos...and especially the Trump Taj Mahal....have been sympathetically received by New Jersey politicians.
On Monday Senate President Stephen Sweeney and Sen. Jim Whelan introduced a proposal that would allow casinos to collectively make fixed payments of $150 million in lieu of taxes for two years...an effective reduction in the taxes the operators are currently paying.
The politicians justify the deal by suggesting that it will allow more efficient budget planning by the state and the city, and do away with expensive and time-consuming taxation appeal litigation.
The management at the Taj Trump Mahal, which has been particularly insistent on the need for tax breaks in order to stay open remained non-committal on the tax proposal, adopting a wait-and-see posture.
The Taj remains the subject of dispute between principal creditor Carl Icahn and the unions, a situation which has led to threats to shut down the casino this (December) month if the unions do not pull back from their demands regarding health and retirement benefits for their members.
Gambling News :
Live Dealer Now At Slotocash -
Live Dealer can be found in the left navigation menu under 'Live Dealer' when you, the player is logged in to instant play.
Betradar Launches US Sports Betting Solutions -
With only a few weeks to go until the betting and gambling world descends on ICE in London, Betradar have today announced that they will be launching a comprehensive range of tools and services to any company that will be looking to provide sports betting in a post-PASPA United States.
Final 12 For MPNPT Morocco -
Sunday on the MPN Poker Tour Morocco will see several trophies awarded at the Mazagan Beach Resort, with the largest going to the Main Event champion along with a prize of MAD 400,000 (c.€35,400).
MPNPT Morocco Updates -
Leading the 104 combined survivors from both flights is still Said El-Yousfi with 272,000 chips; visit the MPN Poker Tour blog for an end-of-day recap and full chip counts.
MPN Poker Tour Morocco Day 1A -
The MPN Poker Tour has returned to Morocco this week (January 11-14), featuring the MAD 1.5 million guaranteed Main Event, accompanying side events, and the activities and parties for which this tour has now become known on two continents.
2018 MPN Poker Classic -
The MPN announces the return of The Classic tournament series this January. The series is back following its successful €350,000 guaranteed debut in 2017. This time €500,000 is guaranteed, along with a once in a lifetime trip to Monaco for the Classic Champion.
PDC and Sportradar Renew Deal -
Following this month’s hugely successful World Championship, the Professional Darts Corporation (PDC) and long-standing partners Sportradar have renewed their multi-faceted cooperation that will see the leader in sports data and content continuing in their role as official data
Poker Yaar Joins MPN -
Available through download, instant play and mobile, Pokeryaar.com is live with Omaha, Hold’em and Five-Card poker variants, alongside MPN’s Fish Party, the industry’s only progressive jackpot SNGs.
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