Study: New Jersey to Receive Almost $1 Billion in Gaming Funds
"The Casino Association of New Jersey Tuesday released results of a study that estimated the gaming industry will generate more than $980 million in state and local taxes and other obligations in 2006. "These include money for the Casino Revenue Fund, which pays for programs benefiting seniors and the disabled, and the Casino Reinvestment Development Authority, funds earmarked for development and other projects throughout the state.
"'The success of casino gaming in New Jersey is statewide and far exceeds the Atlantic City region,' said Audrey S. Oswell, president of the casino association.
"Over the years, the CRDA has contributed to projects such as the Camden Children's Garden, Shepherd's Farm Senior Housing in West Deptford, and the Alice Paul Leadership Center in Mount Laurel.
".Northfield-based Spectrum Gaming Group, which conducted the study, anticipates the casino industry in Atlantic City will produce about $5.2 billion in gaming revenue in 2006 and $500 million in non-gaming revenue. Last year, the industry set a record, topping the $5 billion mark for gaming revenue.
".Despite a 7.7 percent increase in gaming revenue for the first quarter, the anticipated gain of almost 4 percent is not unrealistic, said Joe Weinert, vice president of Spectrum Gaming Group."