Atlantic City Mayor eyes cut of NJ sports betting tax

Atlantic City Mayor Marty Small Sr. has called for the city to receive a direct cut of sports betting tax in New Jersey, arguing it has played a key role in the success of the state’s regulated market.

Speaking at a meeting of the Atlantic City Taxpayer’s Association, Small said that the city should have more control over income from sports betting taxes.

At present, the Casino Reinvestment Development Authority collects 1.25% of all sports bets, which is then used for tourism and marketing programs in Atlantic City. However, the state has exclusive control over these funds.

Small, who came into office in early October, said one of his main goals as Mayor is to ensure the city is better rewarded for the role it has played in helping the growth of sports betting in New Jersey.

Read the full story on iGB North America.