Assembly Democrats have put together their own plan for two casinos in northern New Jersey, US.
The biggest difference from the plan proposed by Senate President Steven Sweeney previously is the amount of tax revenue that will be sent to Atlantic City casinos.
Under their plan, AC casinos would receive 35 per cent of tax revenue for the first 15 years. Then it would drop 1.5 percentage points each year over the next 10 years until it bottoms out at 20 per cent.
Sweeney would give AC casinos 49 per cent of the tax revenue for 15 years. The Assembly’s plan states the casinos need to be 75 miles or more from AC.
It also includes a provision preventing one company from operating both north Jersey casinos, which is absent from the Senate’s plan.
Source: Fantini’s Gaming Report
