Atlantic City is for the most part famous for its Casinos and big resorts. But, since the legalization of gambling in Atlantic City, citizens from all walks of life can rake the rewards from that decision, thanks to the CRDA. Even if you haven’t heard of the CRDA before, there’s a good chance you’ve taken advantage of what they offer. Indeed, this organization handles a 1.25% mandatory tax that casinos have to pay. What’s more is that they reinvest the money in free events like Music Festivals, Seafood Festivals, and Food Truck Festivals, etc. Although the CRDA does not fully pay these events, they’re heavy initiated by seed money.
Let’s talk numbers.
The original Casino Control Act from 1977 said that “A casino needs to reinvest 2% of its gross revenue”. However, in 1984 the rules changed as the CRDA saw the day. Indeed, the new law gave a choice to licensees to either pay a 2.5% tax to the state or 1.25% tax to the CRDA to help with projects in Atlantic City and NJ. To put that in perspective. In 2017, the industry made $723 Million, which explains the many new projects across the garden state. And before that, between 1985 and 2008 CRDA spent $1.5 Billion in Atlantic City alone.
Some of CRDA’s contribution in 2018
There’s no doubt that you’re in for a summer of fun! Indeed, have a look below at all the activities the CRDA is contributing towards this year.
- The first show is on July 1st, and the singer and songwriter Sam hunt will perform on Atlantic City’s beach at 7 PM.
- The second beach show is on July the 26th, and Demi Lovato will entertain citizen from 7 PM for free.
- On July 29th it’s The Chainsmokers and all American DJ’s turn to give an Electro pop and new dance show at noon.
And the fun continues in fall too!
- September 8-9th the Seafood festival is back at Bader Field! And it’s now a two days-long event.
- September 15-16th the Professional Bull Riders are visiting Boardwalk Hall too!
Honestly, there’s something for everyone! It seems the CRDA wants to make the garden state an even better place to visit this summer! And all of this thanks to the gaming industry. So there’s a lot to be thankful for!