New Jersey approves $15.7 million payment to Atlantic County
New Jersey’s Local Finance Board approved a $15.7 million lump-sum payment to Atlantic County following a settlement over the casinos’ PILOT tax calculation. The 2021 amendment excluded iGaming and online sports betting revenue; the county will return to quarterly PILOT payments with that revenue included.
The settlement changes how Atlantic County receives property tax revenue linked to casino iGaming and online sports betting.