Phil Murphy has signed a legislation that states that it shares sports betting revenue with a simple state casino authority.
The reports which have come is that the Democrat Cleared the way last week for 1.25% of sports betting revenue to be funnelled into the Casino Reinvestment Development Authority. It will mainly come in working effect from December.
Legislators have decided that in 2016 to use the Casino investment alternative tax to mainly pay for the Atlantic City’s debt.
The CRDA says that authority has almost lost $22m in revenue from this decision. The legalised Sports in New Jersey has produced about $16.5 millions in revenue.
Director of Communications Larry Siegs says that the Authority is “looking ahead to fulfiling the Void” and increase vistitation to Atlantic City.