newjerseynewsroom.com

State collects $23.5 million in revenue

Atlantic City's 11 casinos reported $294.2 million in winnings in January, a decrease of 8.5 percent over the same month in 2009, the state Casino Control commission reported Tuesday.

The casinos won $195.5 million at the slot machines and another $98.7 million at table games in January. Slot revenue declined 7.6 percent while table revenues decreased 10.1 percent.

The casinos paid $23.5 million in taxes on their gross revenues in January. That money, 8 percent of taxable gross revenue, goes into the state Casino Revenue Fund which pays for programs that benefit senior citizens and people with disabilities.

In addition, the casinos incurred another $3.7 million in reinvestment obligations. They are required to reinvest 1.25 percent of gross revenues in projects approved by the state Casino Reinvestment Development Authority.

Casino win is the net amount of money won by casinos. It is not profit.

— TOM HESTER SR., NEWJERSEYNEWSROOM.COM