The Casino Reinvestment Development Authority (CRDA) in New Jersey will spend about $137,000 to hire armed security guards. While the security detail won't protect the Boardwalk or casino area, it will be stationed at the CRDA offices along S. Pennsylvania Avenue in Atlantic City.
The CRDA is unique and uses Atlantic City gaming taxes to support the city through reinvestment. It focuses on economic and community development and derives its revenue from a portion of the casinos' gross gaming revenue (GGR), as mandated by the state. The CRDA also collects a "luxury tax" from casinos, including a percentage of hotel revenue, alcohol sales, and entertainment receipts.
In 2018, an audit by the then-New Jersey State Auditor Stephen Eells found that the CRDA did not always use its funds efficiently, with some transactions not properly recorded in their accounting systems.
Despite growing statewide gaming revenues, Atlantic City casino executives believe that the GGR figures do not accurately represent the casinos' overall performance due to revenue sharing with third-party operators in online gaming and sports betting. Crime rates in Atlantic City have been on the rise, prompting measures to address the issue, including business closures in high-crime areas overnight.
I appreciate the awareness about CRDA's funds management and the concerns raised by Atlantic City casino executives. Transparency and efficiency are crucial. The impact of revenue sharing on GGR figures is noteworthy. Concerns about rising crime rates are also alarming. I'm interested in learning more about the specific measures being implemented to address these issues and ensure community safety.
I see the CRDA is taking steps to address security concerns, but I'm curious if there are other strategies being considered to improve safety in Atlantic City.
Seems odd to beef up security at the CRDA offices, not where it's most needed. They gotta tighten up their fund management too. The gaming revenue's off, and rising crime? That's a red flag. Safety's key for Atlantic City's vibe and success.
I am grateful for the information. It seems that CRDA in New Jersey has earmarked $137,000 for armed security guards to secure S. Pennsylvania Avenue in Atlantic City. The security detail will not cover the Boardwalk or the casino areas, but it will protect the CRDA offices.