Gov. Murphy signs tax relief bill for Atlantic City casinos
Atlantic City casinos officially received tax relief Tuesday thanks to New Jersey's governor.
The state Legislature passed a bill shortly before midnight Monday making changes to an existing law enabling the nine casinos to make payments in lieu of property taxes to Atlantic City, Atlantic County, and the school system.
Casinos don't have to factor in sports and internet gaming profits to their payments.
Atlantic County plans to sue over this decision because it feels it's being cheated millions.
State Senate President Steve Sweeney, who will no longer be a lawmaker next month, pushed for this claiming, without any proof, four casinos would otherwise shut down.
The measure scales back large increases the casinos would be required to make under the existing legislation as they recover from the coronavirus pandemic.