The New Jersey Legislature has passed a law on tax breaks for gambling operators after the coronavirus pandemic.
According to the decision, casinos are partially exempted from tax on investments in advertising campaigns for two years. In addition, gambling houses will be given a discount when paying tax on gambling income in 2021.
The law is necessary because the catastrophic and unprecedented economic downturn caused by the COVID-19 pandemic has dealt a devastating blow to the economy of the Atlantic City gambling zone and nearby regions, led to large-scale layoffs and disruptions in the gambling industry, the consequences of which will be long-lasting, lawmakers explained in New Jersey.
They stressed that the state must take steps to ensure the continued viability of Atlantic City and to help the people of the gambling zone solve economic and financial problems.
The law is sent for signature to Governor Phil Murphy.
GURU Slots wrote that the authorities of the state of New York and the city of New York have decided to freeze plans to build new casinos in the metropolis.
As reported, thanks to the legalization of betting in Arizona, the first legal sports betting in this state can be made in September 2021. Recall that mobile betting was legalized in the above-mentioned state of New York.