New Jersey regulators postpone reporting deadline for casinos
The New Jersey Division of Gaming Enforcement announced Tuesday that the 2019 fourth quarter casino profit and annual filing deadline would be delayed until April 30 because of the COVID-19 pandemic.
Gov. Phil Murphy ordered the indefinite closing of Atlantic City’s nine casinos March 16 but permitted online gaming in New Jersey to continue.
To alleviate some of the impending financial impact and uncertainty, each of the city’s nine casinos offered variations of health benefit extensions and/or temporary wages for their workers. As of March 1, there were 26,450 casino workers in Atlantic City, according to the state Division of Gaming Enforcement.
The industry’s monthly gaming revenue figures from March are still on schedule to be publicized on April 15, the Press of Atlantic City reports.
Since the closure, an estimated $738,261 in casino-related taxes and fees has been lost for New Jersey. If the city’s nine casinos remain closed as the calendar creeps toward the industry’s peak months of June and July, the amount of lost taxes and fees per day could come close to $1 million, experts said.
The 2019 fourth quarter casino profit report will be the final data set for the first full year of nine operational properties in Atlantic City.
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