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Silverstein Properties and Greenwood Gaming & Entertainment want to build two towers over 1.8 million square feet in midtown. It would feature a 1,000-room hotel, a 1,000-seat hall, and an eight-story casino. This is such a presumed lock that Yonkers Mayor Mike Spano recently urged the gaming commission to just OK the bid now so they could get started. There are now eight would-be bidders, and I’ve decided to open a fake sportsbook to take fake wagers on which very real bids are going to get the nod. Wynn Resorts is dropping its bid to land a casino license in New York.
Casino gaming tax revenue in New Jersey was $350,897,338 in 2020. While the gross casino gaming revenue in 2020 was $2.88 billion, this was down 16.9% on the previous year due to the impact of COVID restrictions. Under US gambling laws, a 24% federal tax is payable on gambling winnings in New Jersey, as it is in all other states. In addition, New Jersey sets several other taxes for gambling winnings.
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