Casino Reinvestment Development Authority

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Casino Reinvestment Development Authority

 

As part of the original Casino Control Act enacted in 1977, each casino licensee was required to reinvest 2% of its gross gaming revenue. However, by the beginning of 1984, no casino licensee had yet made any of its required reinvestments as there was no unbiased decision making entity in place. In 1984, the State Legislature established the Casino Reinvestment Development Authority which developed guidelines describing more precisely a casino licensee's investment obligations consistent with the intent of the original statute. The 1984 law gives each casino a choice: pay 2.5% of its gaming revenue to the State, or reinvest 1.25% of its gaming revenues through the CRDA in community and economic development projects in Atlantic City and around the State.

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