New Jersey’s PILOT Bill Decision Irks Some Attorneys Who Want to Appeal It

New Jersey's PILOT Bill Decision Irks Some Attorneys Who Want to Appeal It

The New Jersey (NJ) legislature is trying to create different ways in which it can protect the Atlantic City gambling industry. It is a leading revenue generator in the state, but it has faced many challenges in the recent past. Several attorneys have teamed up to appeal the NJ PILOT bill decision for last month.

Many people believe that the bill can help in protecting Atlantic City casinos. Yet, others claim that it provides gaming firms in New Jersey with unnecessary tax holidays.

Attorneys Object the NJ PILOT Bill Decision

NJ’s casino industry has run for several decades. Surprisingly, all its casinos are in Atlantic City, thus making it the United States’ best gambling haven on the East Coast.

Still, most casinos recorded a sharp decline in their monthly revenue in 2020 due to the Coronavirus outbreak. Some players feared that various casino operators would close permanently.

New Jersey officials presented a bill known as the payment-in-lieu-of-tax (PILOT) bill in 2021, aiming to reduce the taxes that local casinos pay. The bill aimed at removing online betting from the revenue that operators pay.

Superior Court Judge Joseph Marczyk voted against the bill claiming that it opposes the 2018 agreement that casino operators made to pay taxes for all iGaming earnings.

Some attorneys announced this week that they will appeal Marczyk’s ruling. But, the appeal process might face some challenges.

Dennis Levinson, Atlantic County Executive, believes that the attorneys are just trying to delay the PILOT bill decision. He stated that the appeal isn’t guaranteed and that Marczyk’s decision doesn’t automatically strike down the PILOT bill.

Instead, it adds extra steps that lawmakers have to follow before they approve it. The bill will now go to Judge Michael Blee of the Atlantic County Assignment, who is expected to make another decision.

Atlantic City Casinos Have Done Major Improvements

New Jersey’s casino industry is still thriving as Atlantic City attracts millions of players from all over the nation each year. Its casinos recorded high revenues in 2021, and it is uncertain how they will perform this year.

The country’s economy has dropped due to the Russia-Ukraine war and increasing inflation rates. This has discouraged many players from traveling to distant gaming destinations like Atlantic City.

Casino operators in the region are doing all they can to attract more tourists to their sites. This includes doing major upgrades to offer a better gaming experience. For example, the Ocean Casino Resort recently announced a $5 million upgrade to its bookmaker this week.

Hard Rock Atlantic City has also done several major renovations despite being among the leading gambling companies in the state for many years. Hard Rock International owns it and has generated high revenues in recent months.

The state’s PILOT bill can improve the current situation of Atlantic City casinos. Yet, it is unclear whether it will pass.

The Las Vegas Gaming Industry Is Still Expanding

Las Vegas has the largest casino industry in the country as it has many multi-billion dollar gaming properties. Its casinos had a successful 2021 like those in Atlantic City. Companies like Station Casinos are planning to set up new properties in Vegas soon.

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