Mike Gulotta, the CEO of Deo Volente Farm in New Jersey, has written a rebuttal to a recent editorial authored by an Atlantic City, NJ, casino executive. He is also an actuary and former chairman of benefit consulting firms ASA Inc. and Aon Consulting, and has been involved in some talks about New Jersey's budget crisis.
In his piece posted on NJ.com, Gulotta notes that "Atlantic City casino companies have consistently looked out for their own best interests by building casinos or proposing to build them right on New Jersey’s borders. For example, Harrah’s built its Chester racino just 70 miles from Atlantic City. Is it fair for them to diversify their revenue sources, rip gaming and tax revenues out of New Jersey and then cry the sky is falling when slots are proposed at the Meadowlands? While that may make sense to them and their shareholders, it is patently unfair to New Jersey’s taxpayers."
He also notes that Pennsylvania taxes gross gaming revenue at 38 percent while Atlantic City casinos pay just 8 percent.
To read Gulotta's letter, click here.
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