New Jersey's casino tax rate lower than other US states
The rate is substantially lower than that paid in surrounding states, including New York, Pennsylvania and Maryland. In 2016, Pennsylvania’s 12 operating casinos paid more than USD 1.379B in taxes, according to a report from the American Gaming Association.
New York’s nine operating casinos paid more than USD 888M in casino taxes. Maryland, despite having only five gaming properties, took in USD 452.9M, more than double what New Jersey received in casino tax revenue.
“You guys have been ripped off by the casino industry for 30 years,” Jeff Gural, owner of the Meadowlands, said of New Jersey’s casino tax rate. “I wrote the casino laws in New York. The tax rate here is a fiasco. Basically what has happened in Atlantic City is that operators have taken profits from here and built competition for Atlantic City.”
In Pennsylvania, slot machine revenue is taxed at 55 percent, while table games are taxed at 16 percent. In New York, the casino tax rate ranges between 31 percent and 41 percent, according to a report by the American Gaming Association. Maryland has a 20 percent tax on table game revenue and a 50 percent to 61 percent tax on video lottery terminals.
Over the years, state casino representatives have said the state needs a lower tax rate because they are required to build first-class casino hotels with at least 500 rooms and help the city become a resort, tourist and convention destination.
“I think it’s right with a single-digit tax rate,” said Michael Pollock, managing director of casino gaming analysts Spectrum Gaming Group. “It’s an enormous competitive advantage to the state to both existing and potential properties.”
Assemblyman Vince Mazzeo, D-Atlantic, said now’s not the time to increase the casino tax rate.
“At a time when Atlantic City is on the rebound, I don’t believe raising taxes on the city’s biggest industry and employer will benefit our region,” Mazzeo said. “Now with the PILOT program in place, we’ve stopped the tax-appeal lottery and stabilized the ratable base so we can continue to allow Atlantic City to prosper.”
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