How New Jersey Will Double Down On Gambling If Casinos Come To New York City New Jersey - Jeff Gural HEAD TOPICS

How New Jersey Will Double Down On Gambling If Casinos Come To New York City

10/22/2022 2:15:00 PM

If Manhattan builds a casino the Garden State would lose millions in tax revenue Now local real estate developers and racetrack entrepreneurs are reviving a years-old push to bring gambling to North Jersey

New Jersey Jeff Gural

Source

Forbes

If Manhattan builds a casino, the Garden State would lose millions in tax revenue. Now local real estate developers and racetrack entrepreneurs are reviving a years-old push to bring gambling to North Jersey . If Manhattan builds a casino, the Garden State would lose millions in tax revenue. Now local real estate developers and racetrack entrepreneurs are reviving a years-old push to bring gambling to North Jersey . “I'm waiting and biding my time to see New York get up and running and what the reaction is from the people from northern New Jersey,” he says. “I’d be very surprised if there isn’t a casino in the Meadowlands in a couple of years.”New Jersey has a lot to lose. Despite Atlantic City’s ongoing troubles, the casinos are still relative goldmines for the state. The resort town generates nearly 20% of its tourism dollars, according to the Casino Association of New Jersey. Every year, casinos pay $500 million in wages to employees, and last year, New Jersey’s casinos, sportsbooks, internet gaming apps and racetracks paid $486 million in taxes, a 44% increase over 2020. Read more:
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