12/20/2023 0 Comments Atlantic city casinos that closed![]() No casinos have publicly said that they needed the legislation to stay open, and Sweeney provided little evidence to back up his claim.Ī bill granting tax relief to Atlantic City's nine casinos is in the hands of New Jersey Governor Phil Murphy on December 21 following its passage by the state Legislature. Steve Sweeney, the state Senate's outgoing Democratic president, said that up to four of the city's nine casinos could have been in danger of closing if the bill didn't become law. Murphy said Monday that the bill's provisions and approach "are all good by me." ![]() The casinos will still see their payment amounts increased, but the size of the increase will be smaller. The legislation, which New Jersey's legislature passed shortly before midnight on Monday, will make changes to an existing law that allows Atlantic City casinos to make the payments. The so-called PILOT bill is meant to help ease those impacts on casinos by reducing large payments that will be made instead of property taxes to Atlantic City, Atlantic County and the school system. New Jersey Governor Phil Murphy signed a bill Tuesday that will give tax breaks to the state's Atlantic City casinos, possibly saving four from closing due to the impacts of the COVID-19 pandemic.
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