How much money does New Jersey get from the casinos and how is it spent?
The Casino Revenue Fund, which is used to fund state programs for senior citizens and the disabled, is financed by an 8 percent tax on annual gross gaming revenue from the resort’s 11 casinos. An additional 1.25 percent tax on ggr is used for economic development and housing. That fund is controlled by the Casino Reinvestment Development Authority. There are many other taxes as well, including property taxes, corporate taxes, etc., that go into the state’s general fund and are used for things such as road improvements, State Police salaries and many other things. $1.1 billion per year is generated from a combination of the casino revenue tax, luxury tax, income tax, sales and corporate taxes. This means the casino industry is the fourth-largest tax-generating industry in the state, generating more than either of the amounts New Jersey receives from taxes on cigarettes, alcohol or gasoline.
