“The addition of new casinos in Atlantic City will yield diminishing returns to gross gaming revenues within the city, particularly as new competitors come online in neighboring states. Gross gaming revenue of new casinos in Atlantic City would come largely at the expense of existing venues,” the authors wrote.
Topic
casinos
New Jersey has contributed more than $800M in funding to Atlantic City for budgets since 2016
“In New Jersey, we have a single way of raising money, which is property taxes,” Pfeiffer said of municipal budgets. “Atlantic City has always been an exception to that because you have the hotels and then the casinos. You’ve always had a policy of state engagement to support Atlantic City’s municipal budget in particular.”
Travel and tourism: Key factors in New Jersey’s economic recovery
Economic impacts facing businesses with a particular focus on tourism and how it will affect the economy.