Casinos are also required to invest 1.25 percent of their gaming revenues into projects screened and approved by the Casino Reinvestment Development Authority (CRDA). The state's 8 percent tax on casino gross revenues is devoted to the Casino Revenue Fund which funds programs that provide resources and services to disabled and senior citizens. Casino RevenuesĬasino finances are usually reported in terms of gross revenue which is the amount casinos win from gamblers after all payouts have been made. Casinos purchased over $1 billion in goods and services from 1,808 New Jersey businesses. In 2012, the casino industry in New Jersey employed more than 34,145 people, not including those workers who work in leased stores and restaurants within the casinos. Atlantic City's first casino, Resorts International, opened on May 26, 1978. The second referendum was approved by a slim margin, with approximately 1.5 million voters in favor of it and 1.14 million opposed. This initial referendum was defeated in 19 of New Jersey's 21 counties, with about 60% of votes cast against it.Ī revised referendum, limiting gambling exclusively to the city limits of Atlantic City, was placed on the ballot November 2, 1976. The issue of casino gambling first appeared on a ballot for New Jersey voters on November 5, 1974.
